沥青早报-20251020

Report Summary 1. Report Industry Investment Rating There is no information about the industry investment rating in the provided content. 2. Core Viewpoint There is no clear core viewpoint presented in the given content; it mainly contains various data on asphalt. 3. Summary by Relevant Catalogs Futures Data - Contract Prices: Prices of multiple asphalt futures contracts (BU10, BU11, etc.) decreased from September 18 to October 17. For example, the BU10 contract dropped from 3436 to 3156, and the BU11 contract decreased from 3427 to 3234 [4]. - Volume and Open Interest: The trading volume increased by 43,198 to 312,542, while the open interest increased by 4,924 to 358,277 from October 16 to October 17 [4]. Spot Market Data - Market Prices: Market prices of asphalt in different regions (Shandong, East China, South China, etc.) generally declined. For instance, the Shandong market price decreased from 3520 to 3380, and the Northeast market price dropped from 3850 to 3690 [4]. - Basis: The basis in different regions (Shandong, East China, South China) showed an upward trend. For example, the Shandong basis (+80) increased from 143 to 285, and the East China basis rose from 43 to 185 [4]. Basis and Calendar Spread - Basis: The basis of different regions and contracts increased significantly. For example, the 10 - 11 spread decreased from 168 to -78, and the 10 - 12 spread decreased from 248 to -10 [4]. - Calendar Spread: The spreads between different contract months changed, with some showing significant decreases [4]. Crack Spread and Profit - Crack Spread and Profit: The asphalt Brent crack spread increased from -8 to 205, and the asphalt MRE profit increased from -74 to 120. The comprehensive profit of ordinary refineries and MRE - type refineries also increased [4]. - Import Profit: The import profit from South Korea to East China decreased from -140 to -278, and the import profit from Singapore to South China decreased from -944 to -991 [4].