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Analysis of asphalt price on September 6, 2016

wallpapers Tech 2020-07-06

Saudi Arabia and Russia announced on Monday that they would work together to stabilize the crude oil market, but did not list any measures to freeze production.

JPMorgan Chase, in its latest report released on September 2, said it lowered its price forecasts for Brent crude oil and US crude oil (WTI) in the third quarter and at the end of 2016.

At the same time, the bank believes that the probability of oil producing countries reaching a frozen production agreement has dropped from 35% to 10%.

As of 5:00 p.m. on September 6, WTI crude oil futures price was 44.81 U.S. dollars / barrel.

Asphalt Futures: on September 6, the main asphalt futures contract of Shanghai Futures Exchange was 1612, opening 1886 and closing 1912, up 1.

81% compared with the settlement price of the previous trading day.

On September 6, the overall price of domestic spot asphalt remained stable, while the ex factory price of local refineries remained stable.

Lu Xingjun, an asphalt analyst at the business agency, said that the expectation of the international crude oil market for the freeze production agreement was lowered.

In September, the asphalt market will continue to be hit by high opening rate and high import volume, but the asphalt futures rose by nearly 2% on September 6, boosting the confidence of the asphalt market.

It is expected that the domestic asphalt price will be stable and strong on September 7.

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