April 2nd — Domestic asphalt production for April 2026 is projected to reach 1.527 million tons, a decrease of 440,000 tons month-on-month, representing a decline of 22.4%. Year-on-year, production is expected to drop by 764,000 tons, a reduction of 33.3%. Specifically, Sinopec plans to produce 120,000 tons, down 76.5% month-on-month; PetroChina plans to produce 171,000 tons, down 57.8% month-on-month; while local refineries plan to produce 1.072 million tons, an increase of 20.2% month-on-month.

Chempricehub's analysis of asphalt assigns a long-short score of +1.5. The article indicates that domestic asphalt production for April 2026 is projected to be 1.527 million tons, down 22.4% month-on-month and 33.3% year-on-year, signaling a significant tightening of supply. While Sinopec and PetroChina's production decreased by 76.5% and 57.8% month-on-month, respectively, local refineries increased production by 20.2%. Despite this partial offset, the overall reduction in supply is expected to support spot prices and potentially drive up spot quotations.

Combined with petroleum asphalt futures data (e.g., contract 2606 closing at 4,284 yuan/ton, down 104; contract 2609 closing at 4,032 yuan/ton, down 124), recent market weakness reflects demand concerns. However, the news of reduced production is likely to alleviate supply pressure and support expectations of a rebound in futures prices. A score of +1.5 indicates a relatively strong bullish signal, as the significant decline in supply is partially offset by increased production from local refineries.