沥青早报-20250820

Report Information - Report Title: Asphalt Weekly Report [2] - Research Team: Energy and Chemicals Team of the Research Center [3] - Report Date: August 20, 2025 [3] Key Points Futures Contracts - The prices of BU main contract, BU06, BU09, BU12, and BU03 all decreased on August 19 compared to the previous day, with the BU main contract and BU12 dropping by 20, BU06 by 11, BU09 by 9, and BU03 by 21 [4]. - Weekly price changes also showed a downward trend for most contracts, except for BU06 which had a slight increase of 3 [4]. Trading Volume and Open Interest - The trading volume on August 19 was 217,347, a decrease of 43,279 from the previous day and 22,030 from the previous week [4]. - The open interest on August 19 was 428,359, a decrease of 3,534 from the previous day and 21,568 from the previous week [4]. Spot Market - Market prices in Shandong, East China, South China, and Northeast China generally decreased, while those in North China remained stable [4]. - The price differences between regions, such as Shandong - East China, Shandong - Northeast, and South China - East China, changed significantly [4]. Basis and Calendar Spread - The basis in Shandong decreased by 10 on August 19 compared to the previous day and 102 from the previous week, while the basis in East China increased by 10 on the day and 18 from the previous week [4]. - Calendar spreads, such as 03 - 06, 06 - 09, 09 - 12, and 12 - 03, also showed various changes [4]. Crack Spread and Profit - The asphalt - Brent crack spread and asphalt - Ma Rui profit showed fluctuating trends, and the comprehensive profits of ordinary refineries and Ma Rui - type refineries were relatively stable [4]. - Import profits from South Korea to East China and Singapore to South China decreased [4]. Related Prices - Brent crude oil prices decreased, and the prices of gasoline, diesel, and residual oil in Shandong also showed different trends [4].