石油沥青日报：成本端反弹受阻，局部现货下跌-20251029

Group 1: Report Industry Investment Rating - Unilateral: Neutral, with a short - term focus on observation [2] - Inter - period: None [2] - Cross - variety: None [2] - Futures - spot: None [2] - Options: None [2] Group 2: Core View of the Report - On October 28, the closing price of the main asphalt futures contract BU2601 in the afternoon session was 3,279 yuan/ton, down 26 yuan/ton or 0.79% from the previous day's settlement price. The open interest was 197,268 lots, up 3,762 lots from the previous day, and the trading volume was 166,622 lots, down 68,669 lots from the previous day [1] - The spot settlement prices of heavy - traffic asphalt reported by Zhuochuang Information are as follows: Northeast: 3,406 - 4,750 yuan/ton; Shandong: 3,210 - 3,620 yuan/ton; South China: 3,360 - 3,580 yuan/ton; East China: 3,410 - 3,500 yuan/ton. The asphalt spot price in South China rose slightly, while those in North China and Shandong declined, and prices in other regions remained relatively stable [1] - In terms of asphalt's fundamental factors, the rebound trend of crude oil and asphalt futures has been hindered, and there is strong wait - and - see sentiment in the asphalt spot market. Additionally, Hongrun's release of forward contracts has pressured the asphalt spot prices in Shandong and surrounding areas. Overall, excluding the influence of the crude oil end, asphalt's own fundamentals are relatively weak, and market drivers are limited [1] Group 3: Summary by Relevant Figures Spot Price Charts - Figures 1 - 6 show the spot prices of heavy - traffic asphalt in Shandong, East China, South China, North China, Southwest, and Northwest regions respectively, with the unit of yuan/ton [3][5][7][10] Futures Price and Trading Data Charts - Figures 7 - 12 present the closing prices of the asphalt futures index, the main contract, and the near - month contract, the near - month spread, and the trading volume and open interest of unilateral and main contracts, with units of yuan/ton and lots respectively [3][17][21][23] Production Charts - Figures 13 - 18 display the weekly domestic asphalt production, independent refinery asphalt production, and asphalt production in Shandong, East China, South China, and North China regions, with the unit of 10,000 tons [3][28][30][34] Consumption Charts - Figures 19 - 22 illustrate domestic asphalt consumption in road construction, waterproofing, coking, and marine fuel industries, with the unit of 10,000 tons [3][36][39] Inventory Charts - Figures 23 - 24 show the asphalt refinery inventory and social inventory according to Longzhong's data, with the unit of 10,000 tons [3][40]