ultimatexpoker| Weak supply and demand trends in the asphalt market: Jiangsu Xinhai's expected resumption of production and Jinnuo Petrochemical's production plan
editor 2024-05-22 13:36:58 Home 40
News summary
wait-and-see sentiment in the asphalt market spread, and spot prices stabilized. Jiangsu Xinhai and Jinnuo Petrochemical asphalt units may resume production, but the willingness to start construction on the supply side has not significantly improved. With the launch of road projects in the northern region, rigid demand has gradually picked up. However, the shortage of project funds has limited demand growth, and asphalt social inventories have reached a new high. Investors need to pay attention to asphalt supply and demand dynamics and project progress.
Newsletter text
Both supply and demand in the asphalt market are weak, prices are stable and wait-and-see trend is the mainstream
The spot price of asphalt remains stable at present, and most market participants hold a wait-and-see attitude. Due to the slow recovery of demand for asphalt rigidity, market transactions are skewed to the general level. Jiangsu Xinhai and Jinnuo Petrochemical are about to resume production, but production profits are at a low level and supply-side improvements are limited. The northern region is coming soonultimatexpokerThe high temperature of the company may drive rigid demand for asphalt, but project funding problems still limit demand, and asphalt social stocks are at a high level.
Data from the National Bureau of Statistics showed that China's diesel output fell 6.5 percent year-on-year in Aprilultimatexpoker.1% to 17.27 million tons, while gasoline production increased by 1% year-on-year to 13.32 million tons. In addition, according to the joint petroleum database JODIultimatexpokerSaudi Arabia's crude oil exports increased in March compared with February, reaching 641ultimatexpoker.30,000 barrels per day.