建信期货沥青日报-20250822

Group 1: Report Overview - Report Name: Asphalt Daily Report [1] - Date: August 22, 2025 [2] - Research Team: Energy and Chemical Research Team [4] Group 2: Investment Rating - No investment rating information provided Group 3: Core View - The asphalt market continues to be weak in both supply and demand, with no significant highlights. The unilateral price mainly follows the weak trend of oil prices. As oil prices stop falling and rebound, long positions in asphalt cracking should temporarily stop profit - taking and wait and see [6] Group 4: Market Review and Operation Suggestions - Futures Market: For BU2510, the opening price was 3460 yuan/ton, the closing price was 3465 yuan/ton, the highest was 3470 yuan/ton, the lowest was 3440 yuan/ton, the increase was 0.38%, and the trading volume was 123,400 lots. For BU2511, the opening price was 3415 yuan/ton, the closing price was 3424 yuan/ton, the highest was 3426 yuan/ton, the lowest was 3392 yuan/ton, the increase was 0.56%, and the trading volume was 40,300 lots [6] - Spot Market: Prices in the northwest and northeast markets were generally stable, while prices in other regions declined. Rigid demand for asphalt was weak, negatively affecting spot prices. The average operating load rate of asphalt plants is expected to decline. Demand is not significantly boosted, and market sentiment is pessimistic [6] Group 5: Industry News - South China Market: The mainstream transaction price of 70A grade asphalt was 3460 - 3530 yuan/ton, a decrease of 10 yuan/ton from the previous working day. New contract prices of some refineries were lowered, driving down the market price [7] - Shandong Market: The mainstream transaction price of 70A grade asphalt was 3380 - 3870 yuan/ton, a decrease of 35 yuan/ton from the previous working day. International oil prices and asphalt futures rebounded slightly, but had limited impact on the market. Some local refineries continued to lower prices [7] Group 6: Data Overview - The report presents 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]