China: South China commercial fuel oil inventory slightly builds to 1.66-mil mt

Chemical News: China: South China commercial fuel oil inventory slightly builds to 1.66-mil mt

https://www.chemnet.com Jul 22,2010
Minor refineries in South China's Guangdong Province saw their refining margins fell further in the negative territory, as feedstock costs kept rising, C1's survey found.

The margin was minus Yuan 68/mt on average in theory Wednesday, versus Yuan 44/mt one week ago, while Yuan 192/mt higher than a year earlier, C1's estimated.

Ex-terminal prices of straight-run fuel oil, feedstock for the refineries, were Yuan 4,790-4,810/mt in South China Wednesday, up Yuan 50/mt on week.
In the period, ex-terminal prices of substandard gasoil climbed Yuan 50/mt to Yuan 5,850-5,950/mt ahead of expiration date of fishing-ban season, while high-sulfur residue stable at Yuan 3,800-3,850/mt.

The negative refining margins is estimated to showed no obvious change in the coming week, because there were limited upsides for prices of both feedstock and products, market sources expected.

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