Price Overview - As of May 6, the spot price of asphalt in Shandong ranges from 3450 to 3690 CNY per ton, with prices in East China at 3500 to 3570 CNY and in South China at 3330 to 3500 CNY [1] - On May 7, the national asphalt price list shows various brands and their respective prices, with the average price for 70 asphalt around 3560 to 3590 CNY per ton in Shandong province [2] Futures Market - The main contract for asphalt futures closed at 3432.00 CNY per ton on May 7, reflecting a 2.66% increase, with a daily trading volume of 233,614 contracts [2] Inventory and Production - As of May 6, the total asphalt inventory across 104 social warehouses nationwide is 1.917 million tons, showing a slight decrease of 0.9% from the previous week [2] - The operating rate for downstream asphalt production has increased, with road asphalt production rising by 4.5 percentage points to 24.5%, although it remains at a relatively low level [3] Market Analysis - According to a report from Galaxy Futures, the rebound in oil prices and the relatively stable supply-demand fundamentals for asphalt have led to a recovery in prices, with the asphalt/oil price spread widening [4] - Refinery profits are improving, and attention is drawn to the potential for supply recovery and the sustainability of demand, with a short-term outlook indicating a fluctuating market for asphalt [4]