石油沥青日报：市场矛盾有限，现货价格持稳-20250904

Report Summary 1) Report Industry Investment Rating - Unspecified 2) Core View of the Report - The asphalt market has limited contradictions, and spot prices remain stable. The overall supply - demand situation of asphalt is weak, with low inventory and a continuous de - stocking trend at refineries and in the social sector. The cost of asphalt is still supported by short - term volatile and strong crude oil prices, but there is potential downward pressure on the oil market due to possible further OPEC production increases. The asphalt market lacks fundamental drivers, and attention should be paid to the negative impact of falling oil prices on the futures market after the rebound of the futures price [1]. - The strategy for asphalt is a unilateral oscillation, and there are no strategies for inter - period, inter - variety, spot - futures, or options trading [2]. 3) Summary by Relevant Catalogs Market Analysis - On September 3, the closing price of the main asphalt futures contract BU2510 in the afternoon session was 3,550 yuan/ton, down 0.36% from the previous day's settlement price. The open interest was 93,085 lots, a decrease of 12,775 lots compared to the previous day, and the trading volume was 101,178 lots, a decrease of 51,331 lots compared to the previous day [1]. - The spot settlement prices of heavy - traffic asphalt according to Zhuochuang Information are as follows: 3,806 - 4,086 yuan/ton in Northeast China, 3,510 - 3,820 yuan/ton in Shandong, 3,490 - 3,540 yuan/ton in South China, and 3,560 - 3,750 yuan/ton in East China. The spot price of asphalt in the Shandong market rose slightly, while prices in other regions remained generally stable [1]. Strategy - Unilateral: Oscillation - Inter - period: None - Inter - variety: None - Spot - futures: None - Options: None [2] Figures - The report includes figures related to asphalt spot prices in different regions (Shandong, East China, South China, North China, Southwest China, and Northwest China), asphalt futures prices (index, main contract, near - month contract, and near - month spread), futures trading volume and open interest (unilateral and main contract), domestic asphalt production (weekly, independent refineries, and in different regions), domestic asphalt consumption (road, waterproofing, coking, and ship fuel), and asphalt inventories (refinery and social) [3]