According to the data of business agency, as of September 4, the average price of domestic fuel oil 180CST was 3712.5 yuan / ton (including tax), up 0.34% from the beginning of the week.
| POLYVINYL ALCOHOL |
On September 4, the fuel oil commodity index was 75.19, flat with yesterday, down 35.13% from 115.91 (October 17, 2018), and 63.17% higher than 46.08, the lowest point on August 15, 2016. (Note: period refers to 2011-09-01 to now)
Domestic marine demand and power generation demand still have certain support for fuel oil 180CST, with strong market support and firm business offer. According to the business agency, as of September 4, the price of fuel oil 180CST in Ningbo was 3750 yuan / ton; that of 120 CST fuel oil was 3800 yuan / ton; that of Shanghai area was 3700 yuan / ton; that of 120 CST was 3700 yuan / ton The price of low sulfur is 3800 yuan / ton.
This week, the international crude oil price remained around $40 / barrel, supporting fuel oil. According to the monitoring of business agency, the closing price of WTI crude oil contract No. 10 was USD 39.51/barrel on the 4th day and Brent crude oil contract No. 11 was closed at USD 42.35/barrel on the 4th day.
Singapore’s fuel inventory dropped significantly compared with the previous week, driving the atmosphere of domestic fuel prices. According to the latest data released by ies, the presence of fuel oil depots in Singapore recorded 22.195 million barrels in the week ending September 2, down 936000 barrels or 14% from the previous week. The current inventory basically fell back to the 5-year average level
Aftermarket forecast: the energy analysts of the business agency believe that due to the lower electricity demand in the later period and the sharp drop of crude oil price over the weekend, it is expected that the fuel oil 180CST market will be lower in the short term.
| PVA |