As of January 29, the average 180CST price of domestic fuel oil was 4057.50 yuan / ton (including tax), up 1.25% from the beginning of the week, according to the data of business news agency.
On January 29, the fuel oil commodity index was 82.18, unchanged from yesterday, down 29.10% from 115.91 (October 17, 2018), the highest point in the cycle, and up 78.34% from 46.08, the lowest point on August 15, 2016. (Note: period refers to the period from September 1, 2011 to now)
Domestic marine oil raw materials support the cost of fuel oil 180CST. According to the business news agency, as of January 29, the self provided low sulfur quotation of fuel oil 180CST in Zhoushan area was 4100 yuan / ton; the self provided low sulfur quotation of fuel oil 120cst was 4200 yuan / ton; the self provided low sulfur quotation of fuel oil 180CST in Shanghai area was 4050 yuan / ton; and the self provided low sulfur quotation of fuel oil 120cst was 4150 yuan / ton.
International crude oil prices rose this week, supporting fuel oil prices. With the decline of US crude oil inventory, the weakening of US dollar and the severe global epidemic trend, the market is more concerned about the delay of vaccination and new travel restrictions, which may depress demand. This week, WTI crude oil prices rose by 0.13% and Brent crude oil prices fell by 0.56%.
Singapore’s fuel oil inventory has decreased and its support for fuel oil has increased. It is understood that Singapore’s enterprise development board (ESG): in the week ending January 27, Singapore’s fuel oil inventory decreased by 1.208 million barrels to a five week low of 20.791 million barrels. The weighted average price of shale oil in Fukuang was 2739 yuan / ton, up 81 yuan / ton from the previous round.
Future forecast: business community energy analysts believe that in the near future, the downstream demand of fuel oil 180CST market is light, and the terminal purchase is mainly on demand. Overall, it is expected that the fuel oil 180CST market may be stable in the short term.
| POLYVINYL ALCOHOL |