SunSirs: China Domestic Ship Fuel Market Continues to Rise in December
December 17 2024 09:35:09 SunSirs (Selena)
According to the commodity analysis system of SunSirs, the domestic fuel oil 180CST market continued to rise in the first half of December. As of December 15th, the average price of domestic fuel oil 180CST was 5,536.00 RMB/ton (including tax), an increase of 2.59% from the price of 5,396.00 RMB/ton on December 1st.
According to SunSirs, as of December 15th, the self pickup low sulfur quotation for 180CST fuel oil in Dalian area of China National Chemical Corporation is 5,800 RMB/ton, and the self pickup low sulfur quotation for 120CST fuel oil is 5,900 RMB/ton; The self extracted low sulfur quotation for 180CST fuel oil in the Shanghai area of China National Fuel Oil Corporation is 5,430 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,530 RMB/ton.
In the first half of December, crude oil prices fluctuated and rose, mainly due to the potential supply risks in the Middle East caused by the turbulent situation in Syria, coupled with improved economic and demand prospects in Asia.
In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending December 11th, Singapore's fuel inventory decreased by 868,000 barrels, reaching a 3-week low of 17.921 million barrels. As of the week ending December 11th, Singapore's light distillate inventories increased by 1.357 million barrels, reaching a 14 week high of 15.392 million barrels. As of the week ending December 11th, Singapore's middle distillate oil inventory increased by 1.131 million barrels, reaching a 14 week high of 11.37 million barrels.
Recently, the international crude oil market has risen, and the prices of domestic ship fuel blended raw materials have increased, providing cost support for the domestic ship fuel market; The supply market for ships is mainly driven by the urgent needs of shipping terminals, and the prices of ship fuel continue to rise. The market's wait-and-see sentiment has increased, and operations are cautious. At present, the self extracted low sulfur quotation for 180CST fuel oil is 5,350-5,650 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,450-5,750 RMB/ton. It is expected that the fuel oil 180CST market will rise narrowly in the near future.
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