建信期货沥青日报-20250715

Group 1: Report Information - Report Title: Asphalt Daily [1] - Date: July 15, 2025 [2] Group 2: Research Team - Energy and Chemical Research Team includes researchers for different fields such as crude oil and asphalt, PTA, MEG, carbon market and industrial silicon, polyolefins, pulp, glass and soda ash [4] Group 3: Market Overview - Futures Market: For BU2509, the opening price was 3,620 yuan/ton, closing at 3,646 yuan/ton, with a high of 3,648 yuan/ton, a low of 3,611 yuan/ton, a daily increase of 1.08%, and a trading volume of 15.15 million lots. For BU2510, the opening price was 3,551 yuan/ton, closing at 3,590 yuan/ton, with a high of 3,591 yuan/ton, a low of 3,551 yuan/ton, a daily increase of 0.98%, and a trading volume of 2.87 million lots [6] - Spot Market: Spot prices in the northwest and Shandong markets increased slightly, while prices in other regions remained stable. Rising crude oil prices and the upward trend of asphalt futures boosted the sentiment in the asphalt spot market [6] Group 4: Supply and Demand Analysis - Supply: Jinling Petrochemical in East China stopped asphalt production. Xinhai Petrochemical is expected to resume asphalt production in the second half of the month after switching to producing residual oil this week. Shengxing Petrochemical in Shandong will intermittently switch to producing residual oil next week. As a result, the average operating rate of asphalt plants is expected to decline next week [6] - Demand: Less rainfall in northern regions will support demand to some extent. Seasonal demand will be the main focus for the future [6] Group 5: Industry News - Shandong Market: The mainstream transaction price of 70A grade asphalt was 3,650 - 4,070 yuan/ton, up 10 yuan/ton from the previous trading day. Refiners' restricted shipments and the push - up sentiment of some traders and refiners drove the price increase [7] - South China Market: The mainstream transaction price of 70A grade asphalt was 3,600 - 3,680 yuan/ton, remaining stable. High storage costs for ship - borne resources and weak rigid demand in Sichuan made it difficult for prices to rise or fall [7] Group 6: Core View - The cost of crude oil prices is expected to continue rising. With weak supply and demand in the asphalt market, the price is expected to fluctuate and rise following the trend of oil prices, with seasonal demand being the key factor to watch [6] Group 7: Data Overview - The report presents various data charts including asphalt daily operating rate, Shandong asphalt comprehensive profit, asphalt cracking, asphalt social inventory, asphalt manufacturer inventory, and asphalt warehouse receipts [9][10][18]