建信期货沥青日报-20250729

Group 1: Report Information - Report Name: Asphalt Daily Report [1] - Date: July 29, 2025 [2] Group 2: Investment Rating - No investment rating provided in the report Group 3: Core View - Asphalt continues the pattern of weak supply and demand, and due to the recent continuous decline of oil prices, the previous long positions in asphalt should be temporarily stopped for profit and wait and see [7] Group 4: Market Review and Operation Suggestions - Futures Market: For BU2509, the opening price was 3617 yuan/ton, the closing price was 3569 yuan/ton, the highest was 3637 yuan/ton, the lowest was 3552 yuan/ton, the decline was 1.05%, and the trading volume was 224,900 lots; for BU2510, the opening price was 3592 yuan/ton, the closing price was 3542 yuan/ton, the highest was 3608 yuan/ton, the lowest was 3526 yuan/ton, the decline was 1.14%, and the trading volume was 68,300 lots [6] - Spot Market: The asphalt spot prices in North China and Sichuan-Chongqing markets increased slightly, while the asphalt spot price in Shandong decreased, and the prices in other regions remained stable. The market was cautious and waiting and seeing [6] - Supply: Although some refineries in the Northeast that reduced asphalt production have no short - term production increase plans, due to Jinling Petrochemical's high - load production after July 23 and the possible resumption of production by Shandong Shengxing Petrochemical, the average operating load rate of asphalt plants is expected to rise [6] - Demand: Rainy weather still affects most parts of China, and only Shandong and Central China have relatively less impact, which supports demand to some extent. The improvement of asphalt demand is limited [6] - Operation Suggestion: Temporarily stop for profit and wait and see for the previous long positions in asphalt [7] Group 5: Industry News - Shandong Market: The mainstream transaction price of 70A grade asphalt was 3620 - 4070 yuan/ton, a decrease of 5 yuan/ton from the previous working day. The decline of international oil prices and asphalt futures, as well as the rainy weather, led to the decline of the spot price [8] - South China Market: The mainstream transaction price of 70A grade asphalt was 3560 - 3600 yuan/ton, remaining stable. After the typhoon, the rigid demand did not improve, and the social inventory remained stable waiting for demand release [8] Group 6: Data Overview - The report presents multiple data charts including asphalt daily operating rate, Shandong asphalt comprehensive profit, asphalt cracking, asphalt social inventory, Shandong asphalt spot price, Shandong asphalt basis, asphalt manufacturer inventory, and asphalt warehouse receipts, with data sources from wind and the research and development department of Jianxin Futures [9][14][17][20]