石油沥青日报：供需两弱格局延续，市场下方支撑仍存-20250902

Group 1: Report Industry Investment Rating - The investment rating for the asphalt industry is that the unilateral strategy is to expect a sideways movement, while the cross - period, cross - variety, spot - futures, and options strategies are not recommended [3] Group 2: Core View of the Report - The asphalt market continues to face a situation of weak supply and demand, with support at the lower end of the market. The futures market may continue to move within a range, with support at the bottom but insufficient upward momentum [1][2] Group 3: Summary Based on Related Catalogs Market Analysis - On September 1st, the closing price of the main BU2510 asphalt futures contract in the afternoon session was 3,540 yuan/ton, up 35 yuan/ton or 0.1% from the previous day's settlement price. The open interest was 109,607 lots, a decrease of 10,112 lots from the previous day, and the trading volume was 164,623 lots, an increase of 7,881 lots [2] - The spot settlement prices of heavy - traffic asphalt from Zhuochuang Information were as follows: Northeast 3,806 - 4,086 yuan/ton; Shandong 3,450 - 3,820 yuan/ton; South China 3,490 - 3,530 yuan/ton; East China 3,560 - 3,750 yuan/ton. The price in the North China market declined slightly, while prices in the Northwest, Shandong, and Sichuan - Chongqing regions increased, and prices in other regions remained generally stable. The average domestic asphalt price increased due to the price adjustment of major refineries at the end of the month. However, the demand for high - priced products was weak due to poor project funding, and the peak - season characteristics on the demand side were not obvious. On the supply side, the growth was limited, the operating rate of plants decreased again, the inventory remained low, and the destocking trend continued, with limited overall pressure [2] Strategy - The unilateral strategy for asphalt futures is to expect a sideways movement, and there are no recommendations for cross - period, cross - variety, spot - futures, and options strategies [3]