News summary
Asphalt spot prices are stableonlineslotsfreespins, the market wait-and-see atmosphere is heavy. Needs are limited by project fundsonlineslotsfreespins, social inventories hit a new high. The weak situation of supply and demand is likely to continue, and the upward trend remains to be observed.
Newsletter text
[The asphalt spot market is calm and maintains a stable trend]
As of the end of trading at noon, spot asphalt prices generally showed a stable trend. Market participants generally remain wait-and-see, expecting the market atmosphere to heat up. Despite the waiting period in the market, spot asphalt prices remained largely unchanged.
On the asphalt supply side, Jiangsu Xinhai's 1.5 million-ton unit is expected to restart at the end of May, and Jinnuo Petrochemical's 600,000-ton unit is also expected to resume production later. However, due to the fact that production profits are still at a low level in five years, production companies are not willing to resume production.
On the demand side, the upcoming high temperature weather in some northern areas will promote the construction of some road projects, which will have a positive impact on the rigidity demand for asphalt. However, project funding problems still limit the growth of demand, and asphalt social stocks continue to rise.
Overall, there is uncertainty in the future trend of the asphalt market, and the current situation of weak supply and demand indicates that the sustainability of the price increase needs further observation.
