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Asphalt social inventory ends twelve consecutive increases, factory warehouse inventory increases month-on-month
Latest data show that for the week ending April 7, domestic asphalt inventories at 104 social storage facilities totaled 1.73M tons, down 0.1% month-over-month and down 8.5% year-over-year. In particular, inventory drawdowns were more evident in the Southwest region. This was mainly because resources entering the market were slow due to maintenance at the Three Gorges Dam, but under support from steady demand, inventories decreased somewhat. Domestic inventories at 54 asphalt sample plants totaled 845k tons, up 4.6% month-over-month and down 10.9% year-over-year. In particular, plant inventories increased noticeably in North China and Shandong. This was mainly because the region’s main refineries maintained stable production, but downstream purchasing activity was not strong. (Longzhong Information)