地缘局势趋缓，成本端支撑继续转弱

Report Summary 1) Report Industry Investment Rating - The unilateral strategy for asphalt is rated as "oscillating weakly," while no rating is provided for the inter - period, inter - variety, spot - futures, and options strategies [2] 2) Core View of the Report - The geopolitical situation is easing, the cost - side support for asphalt continues to weaken. If oil prices fall continuously in the future, the asphalt market price will also decline further. The supply - demand pattern of asphalt remains weak, inventory is low, and there is no significant signal of inventory accumulation. The upward drive from the fundamentals is limited [1] 3) Summary by Related Catalog Market Analysis - On August 7, the closing price of the main asphalt futures contract BU2510 in the afternoon session was 3,528 yuan/ton, up 11 yuan/ton or 0.31% from the previous settlement price. The open interest was 211,556 lots, a net increase of 712 lots, and the trading volume was 155,921 lots, an increase of 21,495 lots [1] - The spot settlement prices of heavy - traffic asphalt from Zhuochuang Information are as follows: 3,880 - 4,086 yuan/ton in Northeast China, 3,550 - 3,970 yuan/ton in Shandong, 3,580 - 3,630 yuan/ton in South China, and 3,650 - 3,800 yuan/ton in East China. The spot price of asphalt in the Sichuan - Chongqing market continued to fall, while that in the North China market rose slightly, and prices in other regions remained stable [1] Strategy - Unilateral: Oscillating weakly; Inter - period: None; Inter - variety: None; Spot - futures: None; Options: None [2]