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Downstream restocking sentiment warming, bitumen shipment volume increases sequentially
Latest data shows that as of the week ending March 3, a total of 254,000 tons of asphalt were shipped by 54 domestic companies and manufacturers, a month-on-month increase of 21.5%. Regionally, Shandong and the Southwest saw significant growth. In Shandong, refineries resumed production one after another, focusing on delivering early contracts by the end of the month. After price hikes, downstream inventory replenishment increased, and refinery shipments improved. In the Southwest, after China Shipping Sichuan returned from holidays, stable shipments supported the increase in volume. (Longzhong Information)