The international crude oil rose sharply, but the weather turned cold, the domestic asphalt market demand weakened, and the domestic asphalt rose weakly. According to the price monitoring data of the business agency, the asphalt price was reported at 2277 yuan / ton on November 20, 0.44% higher than that at the beginning of the week.
| Poly glutamic acid |
The overseas epidemic situation is still serious, and the international crude oil market demand is not good; however, there are also good news that OPEC will prolong the production reduction, the US shale oil production will decrease, and the development of new crown vaccine will be accelerated. The international crude oil price fluctuates upward, with WTI crude oil price increasing by 5.71% and Brent crude oil price increasing by 5.10% weekly.
Overall, the domestic asphalt market demand is weakening, and the market supply is at a high level. There is still demand for road construction in East China and central China, and the rigid demand for asphalt is relatively good; the terminal projects in South China and southwest China are relatively stable, and the rigid demand is released steadily; the terminal projects in Shandong and North China are mainly finished with rush work, which still has certain support for rigid demand; the rigid demand for asphalt in Northeast and Northwest China has basically ended, and the demand for asphalt is weak.
Domestic asphalt supply is at a high level, with a cumulative output of 26.95 million tons from January to October, an increase of 13% over the same period of last year. In November, the planned output of asphalt is 3.365 million tons, with a year-on-year increase of 32.6%.
Business agency analysts believe that the international crude oil price has temporarily stabilized at US $40 / barrel, but the epidemic situation abroad is still serious. In the short term, the demand of international crude oil market will be poor, and the crude oil price will continue to be under pressure. As the weather turns cold, the terminal demand for asphalt is weakening, and the domestic asphalt price is expected to decline steadily.
| Polyglutamic acid |