Group 1: Report Industry Investment Rating - No information provided Group 2: Core Viewpoints of the Report - On September 2, the closing price of the main BU2510 asphalt futures contract in the afternoon session was 3,551 yuan/ton, up 1.17% from the previous settlement price; the position was 105,860 lots, down 3,747 lots from the previous day, and the trading volume was 152,509 lots, down 12,114 lots from the previous day [1] - The spot settlement prices of heavy - traffic asphalt from Zhuochuang Information are as follows: Northeast, 3,806 - 4,086 yuan/ton; Shandong, 3,500 - 3,820 yuan/ton; South China, 3,490 - 3,540 yuan/ton; East China, 3,560 - 3,750 yuan/ton. Prices in North China, Shandong, South China, and Sichuan - Chongqing markets rose yesterday, while asphalt spot prices in other regions remained generally stable [1] - The strengthening of crude oil prices provides support for the cost side of asphalt, boosting the sentiment of asphalt futures and spot markets. The supply - demand pattern of asphalt remains weak on both sides. Terminal project funds are generally in poor condition, the improvement of terminal demand is not obvious, and speculative demand is also weak. On the supply side, growth is also restricted, and the recent plant operating rate has declined again. Inventory remains at a low level, and the destocking trend at refineries and social terminals continues, with limited overall pressure [1] - Overall, with the oil price fluctuating strongly and limited contradictions in the asphalt market itself, the market may continue to operate within a range, with support at the bottom but insufficient upward driving force [1] - Unilateral strategy: oscillating; no strategies for inter - period, cross - variety, spot - futures, and options [2] Group 3: Summary by Relevant Catalogs Market Analysis - Futures market: The main BU2510 asphalt futures contract had a closing price of 3,551 yuan/ton on September 2, up 1.17% from the previous settlement price, with a position of 105,860 lots (down 3,747 lots) and a trading volume of 152,509 lots (down 12,114 lots) [1] - Spot market: Spot prices vary by region, and prices in some markets rose yesterday. The cost side is supported by strong crude oil prices, and the supply - demand pattern is weak on both sides, with low inventory and a destocking trend [1] Strategy - Unilateral: oscillating; no strategies for inter - period, cross - variety, spot - futures, and options [2]
石油沥青日报：成本端支撑仍存，局部现货价格上涨-20250903
Hua Tai Qi Huo·2025-09-03 06:30