建信期货沥青日报-20250815

Group 1: General Information - Report Name: Asphalt Daily Report [1] - Report Date: August 15, 2025 [2] Group 2: Investment Rating - Not provided Group 3: Core View - The supply - demand situation of asphalt has deteriorated, and a unilateral short - selling approach is recommended [6] Group 4: Market Review and Operation Suggestions - Futures Market: For BU2510, the opening price was 3501 yuan/ton, closing at 3472 yuan/ton, with a high of 3502 yuan/ton, a low of 3465 yuan/ton, a decline of 0.54%, and a trading volume of 153,800 lots. For BU2511, the opening price was 3449 yuan/ton, closing at 3430 yuan/ton, with a high of 3459 yuan/ton, a low of 3425 yuan/ton, a decline of 0.49%, and a trading volume of 35,600 lots [6] - Spot Market: The asphalt spot price in the North China market increased, while other regions remained stable. The reduction in asphalt spot circulation in some markets supported local prices. Multiple refineries plan to resume asphalt production, and the average operating load rate of asphalt plants will rise significantly. Due to events like the World Games and the military parade, local project construction will be restricted, and the short - term improvement in rigid demand for asphalt will be limited [6] Group 5: Industry News - Shandong Market: The mainstream transaction price of 70A grade asphalt was 3520 - 3870 yuan/ton, remaining stable from the previous workday. International oil prices and asphalt futures continued to fluctuate at low levels, and terminal demand was weak. The spot market was cautious and wait - and - see, with stable quotes from major refineries and traders, and mainly on - demand procurement [7] - South China Market: The mainstream transaction price of 70A grade asphalt was 3520 - 3550 yuan/ton, remaining stable from the previous workday. Affected by typhoon weather, there was rainfall in some areas, and the rigid demand for asphalt remained weak. Social inventory quotes were stable after a decline, with sufficient market supply and a weak overall sentiment [7] Group 6: Data Overview - The report provides 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 CCB Futures [8][13][16][19]