石油沥青日报：需求表现乏力，现货价格窄幅下跌-20250812

Report Summary 1) Report Industry Investment Rating - The unilateral investment rating for asphalt is oscillating weakly, while there are no ratings for inter - period, cross - variety, spot - futures, and options [3]. 2) Core Viewpoints - The demand for asphalt is weak, and the spot price has declined slightly [1]. Recently, the crude oil price has started to oscillate and decline, weakening the cost - side support for asphalt, which has a negative impact on the sentiment of the futures and spot markets. The supply - demand situation of asphalt remains weak, with inventory at a low level and no significant signs of inventory accumulation. The short - term market surplus pressure is limited, but the market sentiment is mediocre. Without the influence of cost - side factors, the fundamental driving force for asphalt is limited. If the oil price continues to fall, the asphalt market price will also weaken further [2]. 3) Summary by Related Catalogs Market Analysis - On August 11th, the closing price of the main BU2510 asphalt futures contract in the afternoon session was 3,481 yuan/ton, a decrease of 18 yuan/ton or 0.51% from the previous day's settlement price. The position was 221,001 lots, a decrease of 611 lots compared to the previous day, and the trading volume was 162,843 lots, an increase of 5,523 lots compared to the previous day [2]. - The spot settlement prices of heavy - traffic asphalt from Zhuochuang Information are as follows: 3,880 - 4,086 yuan/ton in the Northeast, 3,530 - 3,970 yuan/ton in Shandong, 3,540 - 3,630 yuan/ton in South China, and 3,650 - 3,800 yuan/ton in East China. The spot prices of asphalt in the Northwest, Shandong, and South China markets decreased yesterday, while the price in the North China market increased slightly, and the prices in other regions remained stable for the time being [2]. Strategy - Unilateral: Oscillating weakly; Inter - period: None; Cross - variety: None; Spot - futures: None; Options: None [3]