盘面大幅回撤，沥青基差反弹

1. Report Industry Investment Rating - The report gives a neutral rating for the unilateral strategy of asphalt, and there are no specific ratings for other strategies such as inter - period, cross - variety, spot - futures, and options [3] 2. Core Viewpoints - The overall energy sector has risen recently due to multiple factors including macro, geopolitical, and capital aspects. After the previous driving factors faded, the energy sector fell sharply yesterday, and the asphalt futures market declined following the sector [1] - The current fundamentals of the asphalt market are in a situation of weak supply and demand. The recent sharp rise in futures has led to a decrease in the basis, and when the futures market pulled back significantly, the decline on the spot side was relatively limited, resulting in a basis repair [2] - Considering that the Iranian situation has not reached a definite result, short - term caution is still required [2] 3. Summary by Related Content Market Analysis - On February 2, the closing price of the main BU2603 contract of asphalt futures in the afternoon was 3,299 yuan/ton, a decrease of 169 yuan/ton or 4.87% compared with the previous day's settlement price. The open interest was 127,490 lots, a decrease of 18,383 lots compared with the previous day, and the trading volume was 297,354 lots, a decrease of 65,479 lots compared with the previous day [1] - The spot settlement prices of heavy - traffic asphalt from Zhuochuang Information are: 3,506 - 3,550 yuan/ton in Northeast China, 3,250 - 3,300 yuan/ton in Shandong, 3,300 - 3,320 yuan/ton in South China, and 3,200 - 3,280 yuan/ton in East China [1] - The overall rise in the energy sector is driven by multiple factors. The nomination of Kevin Warsh as the new Federal Reserve Chairman by Trump last Friday led to a rebound of the US dollar index at a low level, weakening the macro sentiment and causing a phased ebb in the overall liquidity of commodities. Geopolitically, the Iranian situation was tense last week, and the geopolitical premium in the oil market soared. After the weekend without conflict and with signs of marginal easing in the situation, the geopolitical premium declined [1] Strategy - Unilateral: Neutral, pay attention to the development of the Iranian situation; Inter - period: None; Cross - variety: None; Spot - futures: None; Options: None [3] Figures - There are 24 figures in the report, including those showing the spot prices of heavy - traffic asphalt in different regions, the closing prices of petroleum asphalt futures indices and contracts, trading volume and open interest, domestic asphalt production, consumption, and inventory [4]