供需双弱下 近期沥青期货震荡运行

Core Viewpoint - The domestic futures market for energy and chemicals shows a mixed performance, with asphalt futures experiencing a slight increase amid various supply and demand factors affecting the market [1] Supply Side - Hebei Xinhai plans to increase asphalt production by the end of the month, but Zhenhai Refining may temporarily halt asphalt production, and some local refineries in Shandong, such as Shengxing Petrochemical, may switch to producing residual oil, leading to a decrease in asphalt plant operating rates [1] Demand Side - In North China, terminal demand is weak due to rainfall, while demand in East China and southern regions has improved due to road construction by Shandong Expressway, resulting in price declines in North and East China, while South China sees a slight increase [1] Market Outlook - According to Guantong Futures, southern main refineries are operating at low capacity this week, with reduced rainfall in East China but more rainfall in northern regions. Additionally, market caution due to funding constraints is impacting asphalt demand. The recent rise and fall of crude oil prices have weakened cost support for asphalt, leading to a weak supply and demand scenario, resulting in fluctuating asphalt futures [1]