石油沥青日报：局部现货下跌，盘面维持低位震荡-20251120

Report Industry Investment Rating - Unilateral: Neutral, waiting for the market bottom to consolidate [2] - Inter - period: None [2] - Cross - variety: None [2] - Futures - spot: None [2] - Options: None [2] Core View - The asphalt market is in a low - level oscillation state. The cost side of crude oil is weak, and the fundamental situation lacks positive stimuli. Although there are some bottom signals, the rebound momentum is insufficient. The terminal demand for asphalt is generally dull, with an expected further decline after large - scale cooling. The market's willingness to buy at the bottom is limited, and the trading atmosphere is poor, lacking clear positive signals [1] Summary According to Related Content Market Analysis - On November 19, the closing price of the main BU2601 contract of asphalt futures in the afternoon session was 3045 yuan/ton, a 0.13% decline from the previous day's settlement price. The positions were 181,181 lots, a decrease of 10,781 lots from the previous day, and the trading volume was 182,054 lots, an increase of 24,911 lots from the previous day [1] - The spot settlement prices of heavy - traffic asphalt from Zhuochuang Information are as follows: Northeast, 3156 - 3650 yuan/ton; Shandong, 3030 - 3520 yuan/ton; South China, 3090 - 3210 yuan/ton; East China, 3200 - 3400 yuan/ton [1] - The asphalt spot price in Shandong rose slightly yesterday, while those in the Northeast, North China, South China, and Sichuan - Chongqing regions declined. Prices in other regions were relatively stable [1] Graphical Information - There are various graphs showing data such as the spot prices of heavy - traffic asphalt in different regions (Shandong, East China, South China, North China, Southwest, Northwest), the closing prices of asphalt futures indices, main contracts, and near - month contracts, the trading volume and positions of asphalt futures, domestic and regional asphalt production, domestic asphalt consumption in different fields (road, waterproofing, coking, ship fuel), and asphalt refinery and social inventories [3]