行业 沥青日报 日期 2025 年 8 月 28 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 ...

Group 1: Report Information - Report Name: Asphalt Daily Report [1] - Date: August 19, 2025 [2] Group 2: Industry Investment Rating - No information provided Group 3: Core View - The asphalt market continues to have weak supply and demand with few highlights. The unilateral price mainly follows the weak trend of oil prices, but the trend may be stronger than that of oil prices. It is recommended to go long on asphalt and short on crude oil when the opportunity arises [6] Group 4: Summary by Directory 1. Market Review and Operation Suggestions - Futures Market: For BU2510, the opening price was 3461 yuan/ton, the closing price was 3473 yuan/ton, the highest was 3497 yuan/ton, the lowest was 3452 yuan/ton, the increase was 0.06%, and the trading volume was 175,500 lots. For BU2511, the opening price was 3405 yuan/ton, the closing price was 3429 yuan/ton, the highest was 3450 yuan/ton, the lowest was 3405 yuan/ton, the increase was 0.00%, and the trading volume was 46,700 lots [6] - Spot Market: Asphalt spot prices in Northeast, North China, Shandong, South China, and Sichuan-Chongqing markets have declined, while other regions remain stable. The weak trend of crude oil prices and asphalt futures has a negative impact on the sentiment of the asphalt spot market [6] - Supply: Jinling Petrochemical in East China may maintain low-load production in the near future. Jiangsu Xinhai has no clear restart plan after shutdown, and Shengxing Petrochemical plans to switch to producing residual oil. It is expected that the average operating load rate of asphalt plants will decline [6] - Demand: There is no obvious boost in demand. Rigid demand is restricted by funds and weather, market sentiment is pessimistic, and speculative demand is released cautiously [6] - Operation Suggestion: Go long on asphalt and short on crude oil when the opportunity arises [6] 2. Industry News - Shandong Market: The mainstream transaction price of 70 A-grade asphalt was 3500 - 3870 yuan/ton, a decrease of 10 yuan/ton from the previous working day. International oil prices and asphalt futures fluctuated and declined. The spot market sentiment remained bearish, and the overall rigid demand for asphalt was weak, leading to a decline in the prices of some asphalt brands and a lower market price [7] - South China Market: The mainstream transaction price of 70 A-grade asphalt was 3490 - 3530 yuan/ton, a decrease of 5 yuan/ton from the previous working day. The asphalt futures price continued to decline, the contract prices of some futures-spot traders' warehouses decreased, and the spot market sentiment was weak. With limited rigid demand, traders' spot quotes followed the decline [7] 3. Data Overview - The report presents multiple data charts, including asphalt daily operating rate, Shandong asphalt comprehensive profit, asphalt cracking, asphalt social inventory, Shandong asphalt spot price, Shandong asphalt basis, asphalt manufacturer inventory, and asphalt warehouse receipts, with data sources from Wind and the Research and Development Department of CCB Futures [8][13][16]

Group 1: Report Information - Report Name: Asphalt Daily Report [1] - Date: August 13, 2025 [2] - Research Team: Energy and Chemical Research Team [4] Group 2: Market Review and Operation Suggestions - Futures Market: BU2510 opened at 3507 yuan/ton, closed at 3506 yuan/ton, with a high of 3516 yuan/ton, a low of 3491 yuan/ton, a rise of 0.57%, and a trading volume of 12.03 million lots; BU2511 opened at 3452 yuan/ton, closed at 3466 yuan/ton, with a high of 3474 yuan/ton, a low of 3446 yuan/ton, a rise of 0.46%, and a trading volume of 2.14 million lots [6] - Spot Market: Spot prices in North China, Shandong, South China, and Sichuan-Chongqing markets declined, while other regions remained stable. Rigid demand for asphalt was weak, which was negative for spot prices [6] - Supply and Demand: Some refineries planned to resume asphalt production, and the average operating load rate of asphalt plants would increase significantly. Demand improvement was limited due to events restricting project construction. Overall, asphalt supply and demand deteriorated, and a short-selling strategy was recommended [6] Group 3: Industry News - Shandong Market: The mainstream trading price of 70 A-grade asphalt was 3520 - 3870 yuan/ton, down 55 yuan/ton from the previous day. Terminal demand remained weak, and some traders lowered their quotes [7] - South China Market: The mainstream trading price of 70 A-grade asphalt was 3540 - 3550 yuan/ton, down 40 yuan/ton from the previous day. Maoming Petrochemical adjusted its prices, and a new contract price from Gaofu also decreased, which was negative for market sentiment [7] Group 4: Data Overview - Figures Included: Asphalt daily operating rate, Shandong asphalt comprehensive profit, asphalt cracking, asphalt social inventory, Shandong asphalt spot price, Shandong asphalt basis, asphalt manufacturer inventory, and asphalt warehouse receipts [8][13][16][19] - Data Source: Wind, Research and Development Department of CCB Futures [10][11][12]

日期 2025 年 8 月 1 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 研究员：李金（甲醇） 021-60635730 lijin@ccb.ccbfutures.com 期货从业资格号：F3015157 021-60635727 fengzeren@ccb.ccbfutures.com 期货从业资格号：F03134307 行业 沥青日报 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： ...

行业 沥青日报 日期 2025 年 7 月 29 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 研究员：李金（甲醇） 021-60635730 lijin@ccb.ccbfutures.com 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 ...

Group 1: Report Information - Report Name: Asphalt Daily Report [1] - Date: July 17, 2025 [2] Group 2: Market Review and Operation Suggestions - Futures Market: BU2509 opened at 3626 yuan/ton, closed at 3623 yuan/ton, with a high of 3629 yuan/ton, a low of 3598 yuan/ton, a decline of 0.22%, and a trading volume of 10.82 million lots. BU2510 opened at 3570 yuan/ton, closed at 3570 yuan/ton, with a high of 3576 yuan/ton, a low of 3545 yuan/ton, a decline of 0.11%, and a trading volume of 2.04 million lots [6] - Spot Market: Domestic asphalt spot prices remained stable. Crude oil and asphalt futures fluctuated narrowly, and the spot market sentiment was cautious [6] - Supply: In the East China region, Jinling Petrochemical stopped producing asphalt, and Xinghai Petrochemical is expected to resume asphalt production in the second half of the month after switching to producing residual oil this week. In addition, Shengxing Petrochemical in Shandong will intermittently switch to producing residual oil next week. The average operating load rate of asphalt plants is expected to decline next week [6] - Demand: Rainfall in the northern region will be relatively scarce in the future, which will support demand to some extent. The focus will be on seasonal demand support [6] - Outlook: The cost-side oil price is expected to have room for further increase. Asphalt supply and demand are both weak. The focus will be on seasonal demand support, and the single-side price is expected to fluctuate upwards following the oil price [6] Group 3: Industry News - Shandong Market: The mainstream transaction price of 70 A-grade asphalt was 3660 - 4070 yuan/ton, remaining stable from the previous trading day. The international oil price and asphalt futures continued to fluctuate. The spot market sentiment was cautious. Although some refineries still had restrictions on sales and queuing for loading, the weak terminal demand led to sluggish spot transactions, and the prices of some brand traders decreased slightly [7] - South China Market: The mainstream transaction price of 70 A-grade asphalt was 3600 - 3650 yuan/ton, remaining stable from the previous trading day. Affected by rainy weather and poor project funds, the number of terminal project starts was limited, and the rigid demand for asphalt remained weak. The trucking price of Guangzhou Petrochemical's asphalt may be lowered today, but the social inventory price in Guangdong remained stable due to the high storage cost [7] Group 4: Data Overview - Figures: The report includes figures on asphalt daily operating rate, Shandong asphalt comprehensive profit, asphalt cracking, asphalt social inventory, Shandong asphalt spot price, Shandong asphalt basis, asphalt manufacturer inventory, and asphalt warehouse receipts [9][10][13] - Data Source: The data is sourced from Wind and the Research and Development Department of CCB Futures [6][10][12]

行业 沥青日报 日期 2024 年 6 月 6 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 研究员：李金（甲醇） 021-60635730 lijin@ccb.ccbfutures.com 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： ...