Crude oil price rebounds, China’s domestic asphalt price drops slightly

International crude oil callback, and the terminal road project is affected by cold weather, the demand of asphalt terminal market is low, and the domestic asphalt price is declining. According to the price monitoring data of the business association, the asphalt price on December 25 was 2470 yuan / ton, which was 0.40% lower than that at the beginning of the week.

 

In the process of continuous improvement of international crude oil market, it is reported that mutated virus has been found in the UK, and most cities in the UK have implemented strict City closure measures. A number of countries around the world have suspended air traffic with the UK, and the demand for crude oil has been significantly restrained. This week, the international crude oil price had a correction, with WTI crude oil price down 2.05% and Brent crude oil price down 1.76%.

 

Overall, the domestic asphalt market demand fell to a low level. The results show that the temperature in North and central China turns cold, and the demand for terminal asphalt is weak; the terminal projects in South and southwest China are relatively stable, and the rigid demand is released steadily; in East China and Shandong, due to the weather temperature, the road construction projects are limited, and the demand for terminal asphalt drops to a low level; in Northeast and Northwest China, the rigid demand for asphalt basically ends, and the demand for asphalt is weak. Overall, the demand for asphalt in the North has basically ended, while that in the South has remained rigid.

 

Analysts from business news agency believe that when vaccination continues to benefit the crude oil market, it is reported that the new coronavirus mutates in the UK, the demand for crude oil in the international market loses support, and the international oil price begins to callback. In addition, the domestic asphalt market demand has dropped to a low level, and it is expected that the domestic asphalt price will follow the crude oil price callback.

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