Group 1: Report Overview - Industry: Asphalt [1] - Date: August 27, 2025 [2] Group 2: Market Review and Operation Suggestions - BU2510 opened at 3517 yuan/ton, closed at 3523 yuan/ton, with a high of 3540 yuan/ton, a low of 3512 yuan/ton, a daily increase of 0.54%, and a trading volume of 16.04 million lots. BU2511 opened at 3490 yuan/ton, closed at 3497 yuan/ton, with a high of 3510 yuan/ton, a low of 3483 yuan/ton, a daily increase of 0.78%, and a trading volume of 6.6 million lots [6] - Spot prices in North China, Shandong, South China, and Sichuan-Chongqing markets increased, while prices in other regions were generally stable. The significant increase in crude oil prices at the close yesterday boosted the sentiment of the asphalt spot market [6] - Hebei Xinhai plans to increase asphalt production at the end of the month, but Zhenhai Refining & Chemical may suspend asphalt production temporarily. Some local refineries in Shandong, such as Shengxing Petrochemical, may switch to producing residual oil. It is expected that the asphalt plant operating rate will decline [6] - Demand has not been significantly boosted. Rigid demand is restricted by funds and weather, market sentiment is pessimistic, and speculative demand is released cautiously [6] - Overall, the asphalt market continues to have weak supply and demand with few highlights. The unilateral price mainly follows the upward movement of oil prices. As oil prices stop falling and rebound, asphalt crack spread long positions should temporarily take profits and wait and see [6] Group 3: Industry News - In the Shandong market, the mainstream transaction price of 70 A-grade asphalt is 3490 - 3800 yuan/ton, up 20 yuan/ton from the previous trading day. International oil prices closed higher, asphalt futures fluctuated higher during the session, and some local refineries in Shandong switched to producing residual oil, leading to a decrease in local asphalt supply. Local refineries and traders pushed up asphalt prices, driving up the market price [7] - In the South China market, the mainstream transaction price of 70 A-grade asphalt is 3490 - 3510 yuan/ton, up 10 yuan/ton from the previous trading day. The sales of major refineries are good, and after the futures price rose, spot-futures traders have no low-price contracts for sale, increasing the sentiment of traders to push up prices and driving up the market price [7] Group 4: Data Overview - The report presents multiple data charts, including asphalt daily operating rate (%), Shandong asphalt comprehensive profit (yuan/ton), asphalt crack spread (yuan/ton), asphalt social inventory (tons), Shandong asphalt spot price (yuan/ton), Shandong asphalt basis (yuan/ton), asphalt manufacturer inventory (10,000 tons), and asphalt warehouse receipts (tons), all sourced from Wind and the Research and Development Department of CCB Futures [8][13][16]
建信期货沥青日报-20250827
Jian Xin Qi Huo·2025-08-27 01:42