沥青早报-20250926

Report Information - Report Title: Asphalt Morning Report [2] - Research Team: Energy and Chemicals Team of the Research Center [3] - Report Date: September 26, 2025 [3] Report Industry Investment Rating - Not provided in the given content Core Viewpoints - Not provided in the given content Summary by Relevant Categories Futures Contracts - The prices of BU main contract, BU10, BU11, BU12, BU01, and BU03 on September 25 were 3440, 3460, 3440, 3382, 3360, and 3372 respectively, with daily changes of 48, 52, 48, 48, 58, and 47, and weekly changes of -5, 9, -5, -19, -26, and -6 [4]. - The trading volume on September 25 was 275,998, with a daily increase of 33,479 [4]. - The open interest on September 25 was 394,577, with a daily decrease of 19,265 and a weekly decrease of 12,976 [4]. - The number of combined contracts remained at 18,940 on September 25, with no daily change and a weekly decrease of 4,650 [4]. Spot Market - The market prices of asphalt in Shandong, East China, South China, North China, and Northeast China on September 25 were 3,500, 3,560, 3,500, 3,660, and 3,830 respectively, with no daily change and weekly changes of -20, -80, 10, 0, and -20 [4]. - The prices of asphalt in Zhenjiang Warehouse and Foshan Warehouse on September 25 were 3,420 and 3,450 respectively, with no daily change and weekly changes of -50 and -30 [4]. - The prices of Hongrun and Jingbo asphalt on September 25 were 3,490 and 3,610 respectively, with a daily change of 10 for Hongrun and no change for Jingbo, and weekly changes of 0 and -20 [4]. Basis and Monthly Spread - The Shandong basis (+80), East China basis, and South China basis on September 25 were 130, -20, and 10 respectively, with daily changes of -38, -48, and -48, and weekly changes of 5, -45, and -25 [4]. - The 10 - 11, 10 - 12, 11 - 12, 11 - 01, and 12 - 03 monthly spreads on September 25 were 20, 75, 55, 80, and 13 respectively, with daily changes of 4, 4, 0, -10, and 1, and weekly changes of 14, 28, 14, 21, and -13 [4]. Crack Spread and Profit - The asphalt Brent crack spread, asphalt Ma Rui profit, ordinary refinery comprehensive profit, Ma Rui - type refinery comprehensive profit, import profit (South Korea - East China), and import profit (Singapore - South China) on September 25 were -104, -161, 329, 648, -173, and -942 respectively, with daily changes of -93, -84, -57, -66, -5, and -6, and weekly changes of -127, -114, -87, -95, -80, and -2 [4]. Related Commodity Prices - The price of Brent crude oil on September 25 was 69.3, with a daily increase of 1.7 and a weekly increase of 1.9 [4]. - The market prices of gasoline, diesel, and residue oil in Shandong on September 25 were 7,517, 3,703, and 6,485 respectively, with daily changes of 34, 10, and 11, and weekly changes of -3, -10, and 35 [4][5].