At present, asphalt is in the peak season of consumption, and the demand for spot goods is released in the last wave. While refineries in the main production areas maintain low operating levels, the society is smoothly destocking. A few factories have also experienced temporary shortages. Overall, the inventory status of various factories is lower than the same period last year, and the asphalt market is steadily rising during the week. According to the analysis system of Business Society, the price in Shandong region was 3501 yuan/ton on October 18th, and rose to 3533 yuan/ton on October 25th, an increase of 0.9%.

The cost side support is still acceptable, but the geopolitical issues in the Middle East remain unresolved. There are still significant risks in the oil market, and coupled with the current low supply pressure, there is still support for the closure of spot demand. Asphalt is steadily rising.

In terms of supply, the average operating rate of asphalt in mid October was around 40%, and overall it is still at a relatively low level within the past five years. The pressure on the supply side is not significant.

From the perspective of Shengyi Society, the supply side is still at a low level, and factories are in a low inventory state, which provides some support for asphalt prices. It is expected that in the long run, attention will be paid to the demand for asphalt next year and the fluctuation of oil prices.