Report Summary 1. Report Industry Investment Rating No information provided in the given content. 2. Core Viewpoints No clear core viewpoints are presented in the provided text. The document mainly contains data on various aspects of the asphalt market rather than explicit viewpoints. 3. Summary by Relevant Catalogs Futures Contracts - The prices of different BU contracts (BU10, BU11, BU12, BU01, BU03) have shown varying degrees of decline from September 22 to October 20. For example, the BU10 contract decreased from 3406 on September 22 to 3168 on October 20, a decrease of 238 [4]. - The trading volume on October 20 was 261,470, a decrease of 51,072 compared to the previous day and a decrease of 37,000 compared to September 22. The open interest on October 20 was 366,944, an increase of 8,667 compared to the previous day and an increase of 20,437 compared to September 22 [4]. Spot Market - The market prices of asphalt in different regions (Shandong, East China, South China, North China, Northeast China) have generally declined. For example, the Shandong market price decreased from 3510 on September 22 to 3350 on October 20, a decrease of 160 [4]. - The prices of different spot warehouses (Zhenjiang Warehouse, Foshan Warehouse, Hongrun, Jingbo) have also decreased to varying degrees. For example, the price of Hongrun decreased from 3490 on September 22 to 3300 on October 20, a decrease of 190 [4]. Basis and Calendar Spread - The basis and calendar spread between different contracts have changed. For example, the 10 - 11 calendar spread was 220 on October 15 and -68 on October 20, a decrease of 288 [4]. - The basis between different regions has also changed. For example, the Shandong - East China basis decreased from -70 on September 22 to -150 on October 20, a decrease of 80 [4]. Crack Spread and Profit - The asphalt - Brent crack spread decreased from 199 on October 15 to 178 on October 20, a decrease of 21 [4]. - The profits of different types of refineries (ordinary refineries, Ma Rui - type refineries) have decreased. For example, the comprehensive profit of ordinary refineries decreased from 527 on October 15 to 514 on October 20, a decrease of 13 [4]. - The import profits from South Korea to East China and from Singapore to South China have also changed. The import profit from South Korea to East China decreased from -268 on October 15 to -277 on October 20, a decrease of 9 [4]. Related Commodity Prices - The price of Brent crude oil decreased from 66.7 on September 22 to 61.0 on October 20, a decrease of 5.7 [4]. - The market prices of gasoline and diesel in Shandong have also decreased. The gasoline market price in Shandong decreased from 7464 on September 22 to 7205 on October 20, a decrease of 259 [4].
沥青早报-20251022
Yong An Qi Huo·2025-10-22 01:28