Guoxin Futures: Asphalt cost side provides support, prices fluctuate with a slight upward trend

According to Zhuochuang Information, on the supply side, refinery operating loads remain low, market resource deployment is controllable, and overall supply pressure is limited; on the demand side, the rigid demand for asphalt is generally weak, with downstream procurement mainly on an as-needed basis, and market trading atmosphere is dull; affected by the Middle East geopolitical situation, international crude oil prices are trading at high levels, providing strong support for asphalt prices from the cost side. In the short term, the cost side remains the dominant factor in the asphalt market. Currently, asphalt shows characteristics of cost support, tightening supply, and demand constraints, with prices likely to fluctuate within a high range. Under cost-driven factors, the center of gravity may still move upward, but if terminal demand does not keep up, resistance above will gradually increase. It is recommended to manage risks carefully, maintain a cautious mindset, and primarily adopt a range-bound trading approach. (Guoxin Futures)