1、 Price trend

According to the price monitoring of the business agency, the asphalt market price remained stable in February, and the asphalt price at the end of the month was 3420 yuan / ton, which was the same as that at the beginning of the month.

2、 Analysis of influencing factors

Product: in February, affected by the epidemic situation in China, the demand of asphalt market fell to a low point, but the operating rate of asphalt plant in refineries also fell to a low point. The overall supply and demand of asphalt market is low, and the market price is stable.

Industry chain: affected by the epidemic situation in China at the beginning of this month, domestic refineries reduced their operating rates, and domestic crude oil market demand fell sharply. Three major institutions, OPEC, EIA and IEA, simultaneously reduced the growth rate of global crude oil demand this year. In the late ten days, the new crown epidemic in other regions of the world, such as the Middle East and Europe, had a trend of spreading. The spread of globalization worried the market about future economic development. The price of international crude oil market is declining.

In the aspect of asphalt Market: the continuous decline of international oil price drags down the asphalt market, the prices of some refineries in South China are lower, the prices in Shandong and Hebei are basically stable, and the average market prices in Northeast China are basically stable. Demand for asphalt fell to the bottom in February, affected by the outbreak in China. Since the late ten days, with the gradual recovery of logistics and transportation, the refinery shipment has recovered, but the terminal project recovery is slow, and the asphalt demand is still light. In February, the supply and demand of asphalt market were low, and the market price remained stable.

3、 Future forecast

Lu Xingjun, an asphalt analyst at the business club, believes that the new crown epidemic continues to spread abroad, the trend of international oil price is unclear, and the demand for asphalt is still low in March, so it is expected that the asphalt price will continue to maintain stable operation if the change is not significant.