Zhuochuang Information: Cost-side support continues to strengthen, and the weekly average asphalt price rises significantly

This week, the national average price of asphalt was 3,561.98 yuan/ton, an increase of 112.02 yuan/ton or 3.25% compared to the previous week. First, from the cost side, crude oil prices continued to rise this week, providing strong support for the spot price of asphalt. Second, from the supply and demand perspective, against the backdrop of sustained increases in crude oil prices, the bullish sentiment in the asphalt spot market is strong, with some refineries and traders hesitant to sell, resulting in tighter circulation of asphalt in the spot market. Coupled with the release of speculative demand in the asphalt market, inventory buildup demand has increased, and the fundamentals have a certain positive impact. Under the influence of multiple favorable factors, the weekly average price of asphalt spot market saw a significant increase. Looking ahead to next week, crude oil prices are expected to fluctuate at high levels, with strong support from the cost and raw material sides for the asphalt spot market. It is anticipated that domestic asphalt prices will continue to rise, with the average price range expected to be between 3,750 and 3,800 yuan/ton. (Zhuochuang Information)