石油沥青日报：装置开工率明显增加，市场情绪偏谨慎-20250911

Report Summary 1) Report Industry Investment Rating - Unilateral: Oscillating weakly; Inter - period: None; Inter - variety: None; Spot - futures: None; Options: None [2] 2) Core View of the Report - Crude oil price rebounds, driving a slight increase in asphalt futures, but the increase is limited and the short - term direction remains unclear. The demand peak season characteristics are not obvious, and the increase in asphalt supply in some areas suppresses the spot price. If the oil price rebound is insufficient, the upward driving force of the asphalt market is limited [1] 3) Summary by Relevant Contents Market Analysis - On September 10, the closing price of the main BU2511 contract of asphalt futures in the afternoon session was 3450 yuan/ton, up 0.88% from the previous settlement price. The open interest was 244,770 lots, a net increase of 2,860 lots, and the trading volume was 150,423 lots, a net increase of 37,975 lots [1] - The spot settlement prices of heavy - traffic asphalt from Zhuochuang Information are: Northeast 3,806 - 4,086 yuan/ton; Shandong 3,470 - 3,820 yuan/ton; South China 3,490 - 3,540 yuan/ton; East China 3,560 - 3,700 yuan/ton [1] - The spot prices of asphalt in North China and Sichuan - Chongqing markets decreased, and that in Shandong market increased slightly, while those in other regions remained stable. The utilization rate of production capacity of 77 domestic heavy - traffic asphalt enterprises was 34.9%, a 6.8% increase week - on - week [1] Strategy - Unilateral: Oscillating weakly; 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, Northwest), asphalt futures prices (index, main contract, near - month contract, near - month spread), trading volume and open interest of asphalt futures, domestic asphalt production (weekly, independent refineries, different regions), domestic asphalt consumption (road, waterproof, coking, ship fuel), and asphalt inventories (refinery, social) [3]