Oil Market - Oil prices fell again, with WTI February contract closing down $1.19 at $57.13 per barrel, a decline of 2.04% [2] - Brent March contract closed down $1.06 at $60.70 per barrel, a decline of 1.72% [2] - API data showed a decrease in US crude oil inventories by 2.766 million barrels last week, compared to an increase of 1.747 million barrels the previous week [2] - Discussions are ongoing between the US and Venezuela regarding the export of Venezuelan oil to the US, with potential shipments of 30 to 50 million barrels of high-quality oil [2][14] Fuel Oil - The main contract for fuel oil on the Shanghai Futures Exchange rose by 0.73% to 2479 yuan/ton, while low-sulfur fuel oil rose by 0.27% to 2925 yuan/ton [15] - Singapore is expected to see stable arrivals of low-sulfur fuel oil in the coming weeks, increasing local inventories [15] - Demand for low-sulfur fuel oil remains weak due to holiday impacts, while high-sulfur fuel oil demand is supported by an increase in ships installing desulfurization towers [15] Asphalt - The main asphalt contract on the Shanghai Futures Exchange fell by 0.35% to 3144 yuan/ton [16] - Recent arrivals of diluted asphalt at ports remain stable, with supply expected to be unaffected by geopolitical events [16] - The market is anticipated to stabilize with potential upward pressure on prices due to raw material supply uncertainties [16] Rubber - Shanghai rubber futures saw the main contract RU2605 rise by 260 yuan/ton to 16050 yuan/ton [17] - Natural rubber inventories in Qingdao increased by 3.99% to 451,200 tons, while bonded zone inventories rose by 8.89% to 93,100 tons [17] - The macro environment is improving, but tire demand is weakening, leading to expectations of price fluctuations [17] PX, PTA, and MEG - TA605 closed at 5150 yuan/ton, up 2.06%, while EG2605 closed at 3838 yuan/ton, up 2.84% [18] - PX futures closed at 7336 yuan/ton, up 1.75%, with spot prices at $903/ton [18] - The polyester production load is expected to decline further in January-February, leading to market concerns [18] Methanol - Methanol prices in Taicang were at 2268 yuan/ton, with CFR China prices between $256-$260/ton [19] - Domestic production is expected to increase slightly, while imports are projected to decline from high levels [19] - The market is expected to maintain a strong oscillation due to supply and demand dynamics [19] Polyolefins - Mainstream prices for polyolefins in East China are reported, with various production margins noted [20] - Supply is expected to decrease slightly due to temporary maintenance, while demand is anticipated to recover slightly in early January [20] - Overall, polyolefins are expected to experience price fluctuations around the bottom [20] PVC - PVC prices in East China have increased, with various grades reported at higher price ranges [21] - Supply remains high, but domestic demand is slowing, leading to a bearish outlook [21] - The overall market is expected to maintain a bottom oscillation with limited upward potential [21] Urea - Urea futures prices continued to rise, with the main contract closing at 1778 yuan/ton, a 0.74% increase [22] - The market saw price increases in various regions, with production levels expected to recover slightly [22] - Demand is showing signs of divergence, with some regions maintaining high sales rates while others decline [22] Soda Ash - Soda ash futures prices showed a strong oscillation, closing at 1190 yuan/ton, up 0.34% [23] - Supply is expected to increase as previously maintained facilities resume operations [23] - Demand remains weak, leading to a potential increase in market looseness [23] Glass - Glass futures prices showed a strong oscillation, closing at 1092 yuan/ton, up 0.74% [24] - The domestic float glass market price remained stable, with production levels expected to decrease due to maintenance [24] - Demand is expected to decline as downstream operations slow down, leading to cautious market sentiment [24]

Group 1 - The core viewpoint of the news is that Jineng Technology has shown significant trading activity, with a notable increase in financing and a high level of margin trading, indicating strong investor interest [1][2] - On January 6, Jineng Technology's stock price increased by 1.95%, with a trading volume of 84.94 million yuan and a net financing purchase of 2.43 million yuan [1] - As of January 6, the total margin trading balance for Jineng Technology reached 253 million yuan, accounting for 4.75% of its circulating market value, which is above the 70th percentile of the past year [1] Group 2 - As of December 10, the number of shareholders for Jineng Technology increased by 5.62% to 39,100, while the average circulating shares per person decreased by 5.32% to 21,686 shares [2] - For the period from January to September 2025, Jineng Technology reported a revenue of 12.693 billion yuan, representing a year-on-year growth of 4.47%, but the net profit attributable to shareholders was a loss of 78.23 million yuan, a decrease of 141.22% year-on-year [2] - Since its A-share listing, Jineng Technology has distributed a total of 1.434 billion yuan in dividends, with 482 million yuan distributed over the past three years [2]

行业 沥青日报 日期 2026 年 1 月 7 日 021-60635738 lijie@ccb.ccbfutures.com 期货从业资格号：F3031215 021-60635737 renjunchi@ccb.ccbfutures.com 期货从业资格号：F3037892 028-8663 0631 penghaozhou@ccb.ccbfutures.com 期货从业资格号：F3065843 021-60635740 pengjinglin@ccb.ccbfutures.com 期货从业资格号：F3075681 021-60635570 liuyouran@ccb.ccbfutures.com 期货从业资格号：F03094925 期货从业资格号：F3015157 021-60635727 fengzeren@ccb.ccbfutures.com 期货从业资格号：F03134307 能源化工研究团队 研究员：李捷,CFA（原油沥青） 研究员：任俊弛（PTA、MEG） 研究员：彭浩洲（碳市场工业硅） 研究员：彭婧霖（聚烯烃） 研究员：刘悠然（纸浆） 研究员：冯泽仁（玻璃纯碱） 请阅读正文后的声明 每日报告 ...

国家知识产权局信息显示，中国石油化工股份有限公司取得一项名为"一种甲烷催化燃烧催化剂及其制 备方法"的专利，授权公告号CN119236951B，申请日期为2023年6月。 天眼查资料显示，中国石油化工股份有限公司，成立于2000年，位于北京市，是一家以从事石油和天然 气开采业为主的企业。企业注册资本12173968.9893万人民币。通过天眼查大数据分析，中国石油化工 股份有限公司共对外投资了267家企业，参与招投标项目5000次，财产线索方面有商标信息45条，专利 信息5000条，此外企业还拥有行政许可41个。 来源：市场资讯 中石化（大连）石油化工研究院有限公司，成立于2022年，位于大连市，是一家以从事研究和试验发展 为主的企业。企业注册资本338459.08万人民币。通过天眼查大数据分析，中石化（大连）石油化工研 究院有限公司共对外投资了1家企业，参与招投标项目2801次，专利信息5000条，此外企业还拥有行政 许可65个。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 ...

Market Performance - The three major U.S. stock indices closed higher, with the Dow Jones up 0.99% and the S&P 500 rising 0.6%, both reaching historical highs, while the Nasdaq increased by 0.65% [1] - Tesla shares fell by 4.1%, while Pinduoduo rose nearly 3% and Qualcomm increased by over 3% [1] - The Nasdaq Golden Dragon China Index declined by 0.78%, with Hesai Technologies rising over 10% and Alibaba dropping more than 3% [1] Commodity Prices - WTI crude oil futures fell by 2%, and Brent crude oil futures decreased by 1.71% to below $61 per barrel [1] - COMEX gold futures rose by over 1% to $4,493.40 per ounce, while COMEX silver futures increased by over 6% to $81.20 per ounce [1] - Spot platinum rose by over 7%, and spot palladium increased by 3% to $1,761.18 per ounce [1] - Shanghai silver night trading rose by approximately 4.9% [1] Corporate Developments - Elon Musk's xAI completed a $20 billion Series E funding round, with investors including Nvidia, and the company's valuation may reach $230 billion [1] - Nvidia's CEO Jensen Huang stated that the performance and energy efficiency of the new chip have improved tenfold compared to the previous generation, with optimistic revenue expectations [1] - Nvidia is collaborating with Universal Music and PepsiCo on AI-related projects, and the next-generation chips are now in full production [1] Regulatory and Political News - The U.S. Supreme Court is set to rule on the Trump global tariff case on January 9, with market predictions indicating a 70% probability of government loss [1] - The MSCI has decided not to implement the removal of digital asset treasury companies in the February 2026 index adjustment, leading to a post-market surge of 6% for Strategy [1] - The Federal Reserve Board member Milan called for a rate cut of over 100 basis points this year, with the overnight reverse repurchase agreement usage at $2.582 billion on Tuesday [1] International Relations - The U.S. conducted airstrikes on multiple targets within Venezuela on January 3, with several Latin American countries expressing support for Venezuela and condemning U.S. actions [1] - Discussions are ongoing between the U.S. and Venezuela regarding the potential export of Venezuelan crude oil to the U.S. [1] - Israel reported positive progress in security talks with Syria, with military actions resulting in the deaths of two Hezbollah members in southern Lebanon [1] - Saudi Arabia will fully lift QFI restrictions next month, opening its financial market to all foreign investors, leading to a nearly 3% pre-market rise in the iShares MSCI Saudi ETF [1] - The "Willing Alliance" meeting reached a consensus on providing post-war security guarantees for Ukraine, with the UK and France signing a declaration to send troops to Ukraine if a peace agreement is reached with Russia [1]

Group 1 - The core viewpoint of the article highlights the upcoming procurement plan for the basic design services of ultra-high molecular weight polyethylene (UHMWPE) at the CNOOC Ningbo Daxie Petrochemical, with an expected bidding date in January 2026 [2] - The project aims to establish a new UHMWPE production facility with a capacity of 40,000 tons per year, utilizing raw materials such as ethylene, hydrogen, and purchased hexane, employing a low-pressure hexane slurry process developed by the Shanghai Institute of Organic Chemistry and Sinopec Shanghai Engineering [2] - The total investment for the Daxie Petrochemical Phase VI project is approximately 1,018,418,000 yuan, which includes various production capacities such as 100,000 tons/year of high-performance olefin elastomers (HPOE) and 150,000 tons/year of carbon four comprehensive utilization [3] Group 2 - The Daxie Petrochemical Phase VI project is positioned to enhance the competitiveness of the integrated refining and chemical base by leveraging existing resources like self-produced ethylene and liquefied gas [2] - The project is strategically located in the southern area of the Daxie Petrochemical Taiping plant in Ningbo, aiming to create advanced and competitive high-function material projects [2] - The article also mentions the 2026 Future Industry New Materials Expo scheduled for June 10-12, 2026, at the Shanghai New International Expo Center, focusing on lightweight, high-strength, and sustainable materials [8]

Group 1 - The stock of Maohua Shihua (000637) closed at 4.34 yuan on January 6, 2026, with an increase of 1.17% and a turnover rate of 4.09% [1] - The net inflow of main funds on January 6 was 3.85 million yuan, accounting for 5.94% of the total transaction amount, while retail investors had a net outflow of 3.377 million yuan, representing 5.21% of the total [1][2] - The company's main business includes the production and sales of petrochemical products such as polypropylene, liquefied gas, and industrial hydrogen peroxide [2] Group 2 - For the first three quarters of 2025, Maohua Shihua reported a main revenue of 2.304 billion yuan, a year-on-year decrease of 19.24%, and a net profit attributable to shareholders of -93.73 million yuan, an increase of 18.15% year-on-year [2] - The company's debt ratio stands at 68.65%, with investment income of 2.4289 million yuan and financial expenses of 26.5739 million yuan [2] - The gross profit margin for the company is reported at 2.51% [2]

1. Report Industry Investment Rating - No relevant content provided 2. Core Views of the Report - The pure benzene market continues to operate weakly, dominated by high inventory and weak demand in the short term, with subsequent focus on import rhythm and downstream load changes [2] - The styrene market is in a supply - demand game stage, and short - term trends are mainly driven by real - world supply - demand changes, with inventory evolution as the core concern [3] 3. Summary by Relevant Catalogs 3.1 Daily Market Summary 3.1.1 Fundamental Information - **Price**: On January 5, the main contract of styrene closed down 0.77% at 6,739 yuan/ton, and the main contract of pure benzene closed down 0.75% at 5,406 yuan/ton. The main contract of Brent oil closed at $57.3/barrel (-$0.7/barrel), and the main contract of WTI crude oil closed at $60.8/barrel (-$0.5/barrel). The spot price of pure benzene in East China was 5,290 yuan/ton (-40 yuan/ton) [2] - **Inventory**: The inventory of pure benzene at East China ports was 300,000 tons (+27,000 tons), and the inventory of styrene at East China ports was 139,000 tons (+0 tons) [2] - **Supply**: The processing fees of CFR China and FOB South Korea for styrene slightly rebounded. The styrene plant load rebounded from a low level, but non - integrated plants were still in the loss range [2] - **Demand**: The overall downstream of pure benzene strengthened, while the downstream of styrene entered the off - season. The production profit of hard plastics was continuously compressed, and the finished product inventory pressure remained [2] 3.1.2 Views - **Pure Benzene**: The overseas refined oil cracking spread remains low, pressuring the aromatic hydrocarbon valuation. The domestic supply side has low processing profits, and the demand side is generally weak. In the short term, it is still dominated by high inventory and weak demand [2] - **Styrene**: Overseas supply pressure has marginally increased, and the domestic supply recovery is lower than expected. The demand side is still in the off - season, and the inventory evolution is the core concern [3] 3.2 Industry Data Monitoring - **Price and Yield Data**: From December 31, 2025, to January 5, 2026, the prices of styrene and pure benzene futures and spot, as well as upstream oil prices, showed different degrees of decline or increase. The production of styrene and pure benzene in China decreased slightly, and the inventory of pure benzene ports increased significantly [5][6] - **Capacity Utilization**: From December 26, 2025, to January 2, 2026, the capacity utilization rates of some downstream products of pure benzene and styrene showed different trends, with some increasing and some decreasing [7] 3.3 Industry News - Eight OPEC+ countries have agreed in principle to suspend oil production growth in Q1 2026 [8] - The US demands that Iran completely abandon uranium enrichment activities [8] - Other international political and energy - related news, such as the situation in Venezuela, Ukraine's sanctions, and changes in South African fuel prices [8][9][10] 3.4 Industry Data Charts - The report provides multiple charts, including those related to the prices of pure benzene and styrene, their spreads, import and domestic costs, port and factory inventories, and the capacity utilization rates of downstream products [11][14][21]

Group 1 - Wanda Group and its legal representative, Shang Jiyong, have been listed as high consumption restriction subjects by the Dongying City Kenli District People's Court [1] - This is the first time Shang Jiyong has been placed under such restrictions [1] - Wanda Group, founded in 1988, is one of the largest private enterprises in Dongying, with a diverse business portfolio including oil extraction, port operations, petrochemicals, and international trade [1] Group 2 - Shang Jiyong holds 40.68% of Wanda Group's shares and serves as the chairman and general manager [1] - Wanda Group announced a plan to invest 500 million yuan to acquire Shenghang Co., Ltd., a publicly listed company specializing in hazardous chemical waterway transportation [1] - The company being involved in the court case against Wanda Group is Beijing Crystal Building Decoration Co., Ltd., which was established in 2022 with a registered capital of only 1 million yuan [1] Group 3 - Wanda Group has faced multiple enforcement actions recently, with amounts of 777,300 yuan and 740,900 yuan executed by the courts on July 8 and July 21, respectively [2]

Group 1: Credit Card Regulations - The new regulations from the People's Bank of China eliminate the unified credit card overdraft interest rate standard, implementing a range management system with an upper limit of 0.05% per day and a lower limit of 0.035% [2] - The regulations cancel the maximum term for interest-free repayment periods and minimum repayment amount standards, allowing card issuers and cardholders to agree on penalty fees instead of late fees [2] - The cash withdrawal limit via ATMs has been increased from 2,000 yuan to 10,000 yuan per day, while cash withdrawals at bank counters are not subject to this limit [2] Group 2: Aviation Regulations - New civil aviation regulations state that if flight delays are caused by weather, emergencies, or other non-carrier reasons, passengers must cover their own meal and accommodation costs [4] - The regulations outline 14 violations that must be reported to public security, including the use of forged identification for boarding [4] - Airlines are required to provide meals or accommodation for delays caused by their own operational issues, such as maintenance or crew scheduling [4] Group 3: Fuel Standards - Starting January 1, 2017, the 90, 93, and 97 octane gasoline grades will be phased out, with 89, 92, 95, and 98 grades becoming available [3] - Recommendations for selecting appropriate gasoline grades are provided based on engine compression ratios, with specific grades suggested for different engine types [3] Group 4: Railway Ticket Regulations - New measures allow passengers to report and reissue lost train tickets on board or at the station exit, with the deadline for reissuing tickets extended to before the train stops selling tickets [5] - Passengers must provide purchase information and valid ID to verify their ticket purchase before reissuing [5] Group 5: Salt Pricing Reform - The State Council's new salt industry reform allows for the deregulation of all salt product prices and the cancellation of salt transport permits, enabling existing salt producers to enter the sales market [6] - Multiple institutions predict that the price of ordinary salt may decrease due to increased market competition following the reform [7] Group 6: Air Purifier Standards - The Ministry of Environmental Protection has released China's first environmental standard for air purifiers, which will regulate the entire lifecycle of the product from design to disposal [11] - The standard sets minimum purification efficiency requirements for removing pollutants like PM2.5 and formaldehyde, based on the applicable area of different rooms [11]