盘面高位震荡，现货端支撑仍存

Group 1: Report Industry Investment Rating - Unilateral strategy: Neutral [2] - Inter - period strategy: None [2] - Inter - variety strategy: None [2] - Futures - spot strategy: None [2] - Options strategy: None [2] Group 2: Core Viewpoints - On July 14, the closing price of the main BU2509 asphalt futures contract in the afternoon session was 3,646 yuan/ton, up 39 yuan/ton or 1.08% from the previous settlement price; the open interest was 231,231 lots, up 13,867 lots from the previous day, and the trading volume was 151,549 lots, down 7,524 lots from the previous day [1] - The spot settlement prices of heavy - traffic asphalt from Zhuochuang Information were: 3,900 - 4,086 yuan/ton in Northeast China, 3,650 - 4,070 yuan/ton in Shandong, 3,600 - 3,680 yuan/ton in South China, and 3,660 - 3,800 yuan/ton in East China [1] - The spot prices of asphalt in the northwest and Shandong markets rose slightly, while those in other regions remained generally stable. The recent strong trend of crude oil prices provided some support for asphalt spot and market sentiment [1] - The overall supply - demand situation of asphalt remained weak, with low inventory and relatively insignificant market contradictions. There were growth expectations on both the supply and demand sides, and attention should be paid to the marginal changes in the inventory trend after the expectations were realized. If the inventory continued to rise from a low level, the market structure and sentiment of asphalt would be suppressed to some extent [1] Group 3: Summary by Relevant Catalog Market Analysis - Futures market data of asphalt on July 14, including closing price, price change, open interest change, and trading volume change of the main contract [1] - Spot settlement prices of heavy - traffic asphalt in different regions [1] - Price trends of asphalt in different regions and the impact of crude oil prices on asphalt [1] - The supply - demand and inventory situation of asphalt and the potential impact of inventory changes on the market [1] Strategy - Unilateral, inter - period, inter - variety, futures - spot, and options strategies for asphalt investment [2] Figures - Figures related to asphalt spot prices in different regions (Shandong, East China, South China, North China, Southwest China, Northwest China) [3][10][17] - Figures related to asphalt futures prices (index, main contract, near - month contract, near - month spread) [3][17][20] - Figures related to asphalt futures trading volume and open interest (unilateral, main contract) [3][19] - Figures related to asphalt production (domestic weekly, independent refineries, Shandong, East China, South China, North China) [3][27][29] - Figures related to asphalt consumption (road, waterproofing, coking, ship fuel) [3][36][37] - Figures related to asphalt inventory (refinery, social) [3][38]