5月13日，液化石油气期货呈现震荡下行走势，截至发稿主力合约报4267.00元/吨，跌幅达2.18%。 【消息面汇总】 华联期货：原油晚间回吐部分涨幅，中美贸易谈判取得实质性进展，液化气进口关税下降。近期国际市 场C3反弹。LPG国产商品量继续走低，低于过去两年水平。库容率：港口库容率在多年低位反弹反弹 至同期高位。炼厂库容率处于多年最低附近，加气站库容率一年低位波动不大；库存量：港口库存量反 弹。PDH周度产能利用率继续下降创一年新低，利润低迷；烷基化产能利用率回落，亏损收窄；MTBE 产能利用率回落，亏损偏大。关税降低后，预料国内将积极补库；市场此前对于美国市场缺口也在积极 寻求第三方的进口替代，也增加了潜在供应。但近期随着原油反弹，液化气溢价已经边际降低，有望对 冲关税降低进口增加的预期。需求方面，由于个别领导人多变的性格，贸易谈判或仍有反复。出于规避 这种不确定性和弥补库存缺口的需要，本次关税水平急剧转折将引发海外剧烈的补库需求，利好液化气 最大下游产品聚丙烯的需求。预料液化气仍宽幅震荡为主。操作上，日内偏空，压力位4400附近。 匈牙利总理欧尔班：匈牙利拒绝欧盟停止进口俄罗斯石油和天然气的计划。 瑞 ...

石油沥青日报 | 2025-05-13 宏观情绪好转，沥青盘面跟随原油走强 市场分析 1、5月12日沥青期货下午盘收盘行情：主力BU2506合约下午收盘价3481元/吨，较昨日结算价上涨53元/吨，涨幅 1.55%；持仓107567手，环比下降2504手，成交165731手，环比下跌28348手。 2、卓创资讯重交沥青现货结算价：东北，3700—4086元/吨；山东，3430—3750元/吨；华南，3320—3460元/吨； 华东，3500—3570元/吨。 昨日山东、华南以及川渝地区沥青现货价格出现上涨，其余地区沥青现货价格大体企稳。原油以及沥青期货整体 走势偏强，支撑沥青现货市场氛围，日盘收盘后中美首轮谈判发布联合声明，带动宏观情绪转暖，对沥青盘面存 在进一步提振。就沥青自身基本面而言，供需两弱格局延续，库存维持低位，市场存在支撑。但另一方面，沥青 终端需求增长幅度仍有限，或制约现货价格的上行动力。 策略 单边：震荡 跨期：无 跨品种：无 期现：无 期权：无 风险 原油价格大幅波动、宏观风险、海外原料供应风险、沥青终端需求变动、装置开工负荷变动等 2025年期货市场研究报告 第1页 请仔细阅读本报告最后一 ...

【5 月 13 日国内期市原油系板块表现各异】5 月 13 日，国内期市原油系板块中，液化石油气主力跌逾 2%，其余品种有涨。截至目前，液化石油气主力下跌 2.18%，报 4267.00 元/吨；原油主力上涨 0.74%，报 477.90 元/桶；燃料油主力上涨 1.08%，报 2993.00 元/吨；低硫燃料油主力上涨 1.18%，报 3520.00 元/吨。5 月 12 日商品仓单数据显示，中质含硫原油期货仓单 4029000 桶，环比减少 615000 桶；燃料油期货仓单 44390 吨，环比减少 6730 吨；石油沥青厂库期货仓单 30960 吨，环比持平；液化 石油气期货仓单 6762 手，环比增加 415 手；低硫燃料油仓库期货仓单 26270 吨，环比减少 15980 吨。 截止 5 月 12 日，据基差数据，燃料油、沥青、液化石油气、低硫燃料油品种合约出现"期现倒挂"现 象。其中，燃料油现货价格 5470 元，期货价格2961 元，基差 2509 元，基差率 45.87%；沥青现货价格 3585 元，期货价格 3447 元，基差 138 元，基差率 3.85%；液化石油气现货价格 4905 元 ...

煤油产量：23.0 万吨 同比增长：20.2% 增速较上一年同期变化：高7.6个百分点 摘要：【图】2025年3月天津市煤油产量统计分析 2025年3月煤油产量统计： 2025年1-3月煤油产量统计： 煤油产量：69.2 万吨 据统计，2025年1－3月，天津市规模以上工业企业煤油产量与上年同期相比增长了46.8%，达69.2万 吨，增速较上一年同期高30.6个百分点，继续保持增长，增速较同期全国高48.1个百分点，约占同期全 国规模以上企业煤油产量1398.9万吨的比重为4.9%。详见下图： 图2：天津市煤油产量分月（累计值）统计图 图1：天津市煤油产量分月（当月值）统计图 据统计，2025年3月天津市规模以上工业企业煤油产量与上年同期相比增长了20.2%，达23.0万吨，增速 较上一年同期高7.6个百分点，继续保持增长，增速较同期全国高21.5个百分点，约占同期全国规模以上 企业煤油产量489.8万吨的比重为4.7%。 详见下图： 同比增长：46.8% 增速较上一年同期变化：高30.6个百分点 产业调研网为您提供更多 石油化工行业最新动态 石油市场调研及发展趋势 化工行业监测及发展趋势 日化未来发展趋势预 ...

Core Insights - The article highlights the economic growth and development of Maoming, a city in Guangdong, which is leveraging its unique agricultural and industrial strengths to enhance its GDP ranking and attract investment [1][2][3]. Economic Development - Maoming is projected to rank 8th in Guangdong's GDP by Q1 2025, surpassing cities like Jiangmen and Zhaoqing, as well as provincial sub-centers like Zhanjiang and Shantou [1][7]. - The city is recognized for its significant contributions from the lychee and petrochemical industries, with lychee production reaching 620,900 tons in 2023, accounting for approximately 25% of China's total and 20% globally [2][5]. - The petrochemical sector generated an industrial output value of 180.59 billion yuan in 2022, with a value-added contribution of 44.44 billion yuan [2]. Investment and Infrastructure - Maoming has been designated as a key platform for industrial transfer in Guangdong, with 45 new projects in 2023, amounting to an investment of approximately 24.6 billion yuan [2][10]. - Fixed asset investment growth in Maoming has consistently outpaced the provincial average, with a reported growth of 4.6% in Q1 2025, exceeding the provincial average by 10.8 percentage points [4][7]. Agricultural Innovation - The city is advancing its agricultural sector through digital technologies, with initiatives like the "AI+" model improving pest diagnosis accuracy to over 95% and increasing production efficiency by 30% [5][6]. - The total output value of agriculture, forestry, animal husbandry, and fishery in Maoming is expected to reach 120.89 billion yuan in 2024, maintaining the highest figures in the province [6]. Population Dynamics - Maoming has seen a population increase, with the urbanization rate rising by 2.27 percentage points to 48.11% by the end of 2024, indicating a trend of population return to the city [7][11]. - The city is experiencing a resurgence of talent and investment, with many individuals returning from major cities to engage in entrepreneurial activities [7][13]. Industrial Transformation - The city is focusing on industrial transformation through initiatives like the "Five Chains" strategy, which includes the petrochemical industry, zero-carbon industry, automotive electronics, new energy storage, and titanium industry [9][10]. - Significant investments are being made in new industrial projects, with 4.3 billion yuan allocated to accelerate the establishment of key enterprises and projects [9][10]. Urbanization and Infrastructure - Maoming is advancing new urbanization efforts, particularly in healthcare and education, with a hospitalization rate of 90% and significant improvements in educational infrastructure [12][13]. - The city is enhancing its urban functions to facilitate better interaction between urban and rural populations, creating a conducive environment for business and living [13].

截至2025年5月13日 10:42，中证粤港澳大湾区发展主题指数(931000)下跌0.05%。成分股方面涨跌互现，新产业(300832)领涨5.77%，华大智造(688114)上涨 4.25%，金域医学(603882)上涨3.51%；海信家电(000921)领跌2.77%，广东宏大(002683)下跌2.77%，中船防务(600685)下跌2.58%。 大湾区ETF(512970)上涨0.25%，最新价报1.2元。拉长时间看，截至2025年5月12日，大湾区ETF近1周累计上涨3.81%。 大湾区ETF最新规模达6848.77万元，创近1月新高。 消息面上，中国人民银行、金融监管总局、中国证监会、国家外汇局、广东省人民政府联合印发《关于金融支持广州南沙深化面向世界的粤港澳全面合作的 意见》。其中提出，支持海洋产业和未来产业发展。鼓励金融机构在依法合规、风险可控的前提下，加大海洋产业，商业航天、全域无人产业的支持力度。 鼓励股权投资基金投资海洋高技术产业，强化对重大海洋基础设施建设项目、涉海企业等领域的金融服务。支持保险机构按市场化原则发展海上保险。 中信建投认为高端制造、现代服务、新经济是粤港澳大湾区重要 ...

燃 料 油 日期 鹿特丹3.5% HSF O掉期 M1 鹿特丹0.5% VLS FO掉期 M1 鹿特丹HSFO-Br ent M1 鹿特丹10ppm G asoil掉期 M1 鹿特丹VLSFO-G O M1 LGO-Brent M1 鹿特丹VLSFO-H SFO M1 2025/05/06 380.62 426.34 -2.19 571.31 -144.97 16.94 45.72 2025/05/07 376.49 422.72 -1.76 558.93 -136.21 16.36 46.23 2025/05/08 385.77 431.14 -1.51 571.02 -139.88 16.22 45.37 2025/05/09 391.29 432.57 -1.45 579.21 -146.64 16.19 41.28 2025/05/12 402.21 442.91 -1.29 591.43 -148.02 16.88 40.70 变化 10.92 10.34 0.16 12.22 -1.38 0.69 -0.58 新加坡VLSFO M 新加坡380cst-Br 新加坡VLSFO-G | 日期 | | ...

s 加蒙期货 沥青早报 研究中心能化团队 2025/5/13 | | 指标 | 4/10 | 5/6 | 5/8 | 5/9 | 5/12 | 日度变化 | 間度変化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | BU主力合约 BU06 | 3332 3332 | 3361 3361 | 3383 3383 | 3453 3453 | 3481 3481 | 28 28 | 120 120 | | | BU09 | 3293 | 3286 | 3318 | 3377 | 3416 | 39 | 130 | | | BU12 | 3205 | 3143 | 3161 | 3209 | 3246 | 37 | 103 | | HTT | BU03 | 3225 | 3164 | 3170 | 3210 | 3226 | 16 | 62 | | | 成交量 | 529406 | 348243 | 330465 | 355627 | 325098 | -30529 | -23145 | | | 持仓量 | 415542 | 367957 | ...

Report Summary 1. Investment Ratings No investment ratings for the industry are provided in the report. 2. Core Views - **LPG**: The supply from the US is expected to decrease in mid - late May as the tariff grace period for "in - transit goods" ends, while the Middle East will maintain high output. China's demand may decline due to high tariffs, and India's demand is expected to increase. The EIA inventory has risen, and the price shows a pattern of FEI with butane stronger than propane and May CP with propane stronger than butane. After May 13th, the US exports to China may significantly decrease, and the future situation in Japan and India needs further attention [10]. - **Methanol**: The supply, including domestic production, imports, and traditional downstream, is under pressure. The demand from downstream and olefins is weakening. The inventory situation shows that the support of low inventory for the basis is weakening. The price structure is weak, and the overall pattern of methanol is bearish. It is recommended to short on rebounds, and the price above 2300 points in the long - term is under pressure [56]. - **Polyolefins**: The supply of PP and PE has support from coal - chemical summer maintenance, but the demand is weakening as it enters the off - season. The inventory, cost, and price structure show certain characteristics. Affected by oil prices and tariff policies, the market sentiment is poor, and the polyolefin market is expected to run weakly in the short term, and it is advisable to wait and see [124]. 3. Summary by Related Catalogs LPG - **Supply** - **US**: The "in - transit goods" tariff exemption is about to end, and the output will gradually decrease in mid - late May, with the export focus shifting to other regions [10][14]. - **Middle East**: It is expected to maintain a strong output pattern to China and India in May [10][22]. - **Demand** - **Asia**: South Korea's demand is poor, and Japan will receive a large amount of US LPG in May [29]. - **China and India**: The arrival volume of US LPG will decrease in mid - late May, and India is turning to the US to purchase cheaper propane [35]. - **Inventory**: As of the week of May 2, the US propane and propylene inventory level has risen for the third consecutive week, and the production has slightly decreased but is still higher than the same period in previous years [10]. - **Price and Structure** - **Price**: As of May 8, FEI propane prices were stable, and butane prices were relatively strong. The May CP price of propane decreased by 5 dollars/ton, and butane decreased by 15 dollars/ton [10]. - **Structure**: The FEI - MOPJ spread widened, and the CP propylene - butane spread widened, reflecting China's attempt to find alternative supplies [10]. Methanol - **Supply** - **Domestic**: Short - term maintenance is rare, and the high - level supply pressure will be maintained. The weekly average output in late May is expected to slightly decrease to the range of 95 - 100 tons [56]. - **Import**: The arrival is increasing, and the pressure of import recovery will gradually appear in May. The overseas overall start - up has slightly declined [56]. - **Traditional**: The start - up of formaldehyde and acetic acid is at a high level, but the start - up of MTBE continues to decline [56]. - **Demand** - **Downstream**: The olefin load has decreased due to coal - chemical maintenance. As of May 8, the MTO start - up rate was 75.99% (- 2.08%) [56]. - **Inland**: The inland market has entered the off - season with low inventory [56]. - **Inventory** - **Inland**: As of May 7, the sample inventory of inland production enterprises was 30.39 tons (+ 2.06), and the pending orders were 23.78 tons (- 1.19) [56]. - **Port**: As of May 9, the total inventory was 61.9 tons (+ 0.1), and the negotiable inventory was 21.2 tons (- 1.2). The support of low inventory for the basis is weakening [56]. - **Price and Structure** - **Basis and Spread**: The near - end basis in East China is around 09 + 150/160, and the spread MA9 - 1 = - 63 ( + 2 compared with before the holiday) [56]. - **PP - 3MA**: As of May 9, 09MTO = 286 ( + 6 compared with before the holiday), and the spread trend is difficult to predict [56]. Polyolefins - **Supply**: The start - up rates of PP and PE are 80.2% (+ 3.9%) and 79.2% (- 1.95%) respectively as of May 8. There is support from coal - chemical summer maintenance, and attention should be paid to the PDH start - up and the impact of tariff policies on PE imports from the US [124]. - **Demand**: The start - up of PP downstream industries has seasonally declined, and the start - up of PE downstream industries has also weakened, with the industry entering the off - season [124]. - **Inventory**: As of May 9, the inventory of the two major oil companies was 79 tons (- 1.5), and attention should be paid to the inventory depletion speed after the holiday [124]. - **Cost**: The oil price performance is poor, and the support for polyolefin valuation is limited [124]. - **Price and Structure** - **Basis and Spread**: The PP9 - 1 = 81 yuan/ton ( + 23 compared with before the holiday), and L9 - 1 = 65 yuan/ton ( + 4 compared with before the holiday) [124]. - **PP - L**: As of May 9, 09PP - L = - 9 yuan/ton ( + 33 compared with before the holiday), and the spread is dominated by the difference in the fluctuation range of the two varieties [124].

编者按 在国家"双碳"战略与数字化转型的双重驱动下，石油化工园区的智能化建设已成为行业高质量 发展的核心路径。截至目前，全国共有46家化工园区在智慧安全、智慧环保、智慧应急、封闭管理等领 域初步建成了各具特色且较为实用的智能化管理系统，并被列入智慧化工园区名录，示范效应显著。基 于此，中国化工报推出《解码园区"智"造引擎》专栏，聚焦智能化转型的实践与探索，为行业从"单点 突破"迈向"生态协同"提供借鉴，助力园区实现安全、高效、绿色的智能化升级。 一季度，泉惠石化工业园区共实现产值283.16亿元；固投14.17亿元，比增42.06％。"这些成绩的取得是 园区大力推进数字化转型和智能化发展的结果。"该园区相关负责人表示。 多层次科学规划先行 走进泉惠石化工业园区"5G+智慧工厂"，只见园区驾驶舱操作界面上，各个关键模块数据清晰罗列，在 5G网络的高速传输下精准执行着各项指令，实时监测着各条产线的运行状态……自动化技术与数字技 术的深度融合，已悄然渗透到每一个生产环节之中。在生产指挥中心那宽大的屏幕上，实时映射出每一 道工序的效能图谱，展现出智慧工厂的高效与精准。 "我们立足园区特点，以提升园区智慧化水平为建设目 ...