The asphalt market rose first and then fell in June. According to monitoring data from Shengyi Society, the ex factory price of heavy-duty asphalt # 70 in Shandong region was 3625 yuan/ton on June 1st, and as of June 30th, the ex factory price in Shandong region was 3673 yuan/ton.

After the Dragon Boat Festival, crude oil rose sharply. Supported by the cost side, the asphalt market rose sharply in the first ten days of the year, and the asphalt market turned well under market competition and shipment. But there is a large gap between the north and the south, and the southern region is a national market depression affected by supply.
In the latter half of the year, as the trend of crude oil declined, the cost side support for asphalt faded, and the demand for asphalt was weak, suppressing the market’s upward sentiment and causing a decline in asphalt quotes.
From the perspective of Shengyi Society, the refinery plans to produce 2.47 million tons in July, and the maintenance of Dongming and Lanqiao has been postponed. In the second half of the year, although the expected increase in asphalt supply depends on the actual processing profit situation, the peak season increment still exists, but the overall demand performance this year is not good.