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    Analysis of asphalt industry

    2016-03-08 17:01:47   
    In 2013, the domestic asphalt production was at an increase of tons, an increase of 9.71%. Relative to domestic asphalt, the high price of imported asphalt, and thus boost domestic asphalt demand, driven by domestic asphalt production capacity utilization. 2014 domestic asphalt production is expected to continue to grow, but with the improvement in demand, the overall surplus situation will be improved.
    The upper reaches of the asphalt industry as petrochemical, coal and modified agent and emulsifier, downstream for the highway, waterproof building materials, airport construction and municipal engineering road construction, etc..
    In the petroleum chemical industry chain in the complete front-end products for petroleum asphalt, ether, alkyl hydrocarbon, benzene and other major products, as the petroleum asphalt product after the crude oil processing back-end coking process can get oil glue.
    For the asphalt industry, upstream of the impact is mainly reflected from asphalt production and product price fluctuation in the change of crude oil price volatility, crude oil processing capacity.
    2014 a mild recovery in the global economy will drive demand for crude oil and nearly two years to the expansion of the American crude oil delivery to Cushing to Mexico bay oil refining plant oil pipeline in a certain extent, reduce the local pressure on the stock, boost the WTI oil prices. Therefore, in spite of fed QE exit and increase the supply of influence, 2014 international crude oil price of the center of gravity is still expected to slightly upward, it is expected that WTI crude oil prices fluctuate throughout the year interval in 90 - $115 a barrel, the asphalt futures prices for support.
    From the downstream demand, the laying of asphalt products are mainly used in highways, municipal roads, bridges and airports, and the highway construction for asphalt consumption accounted for 82%. In the production of certain circumstances, the increase of downstream demand will further promote the asphalt product price growth, on the contrary, it will bring the price down.
    2013 by monetary policy neutral tight, funds invested insufficient effect, part of the road construction project was shelved, resulting in 2013 asphalt limited growth in demand.
    However, the construction of road construction period is generally 3-4 years, and the laying of asphalt construction mainly concentrated in the end, therefore, "1025" the last two years, the demand of asphalt will gradually improve.

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