20250924-大越期货-沥青期货早报_35页_1mb

Report Summary

• Author and Qualification: Golden Weiyun, from Daliu Futures Research Department, date 2025-09-24, qualification F3048432 and Z0015557.

• Key Analysis:

  • Supply: Domestic asphalt output decreased, with a slight increase expected next week, reducing supply pressure.产能 utilization remained low.
  • Demand: Demand is below historical averages, weak due to slow economic recovery.开工率 low, not meeting expectations.
  • Costs:加工 profit negative, crude prices weak, limiting support.
  • Market Sentiment: Overall bearish, with negative signals from inventories and price走势, but slight positive from high crude costs.

• Price Expectations: Short-term narrow range震荡 for SC2511, target 3352-3394, influenced by risk factors like原油波动 and利润差 changes.

• Disclaimer: Report is informational only, not investment advice.读者 should assess risks independently.