China: SHFE's fuel oil futures delivery stock rises 0.6% to 321,200mt

Chemical News: China: SHFE's fuel oil futures delivery stock rises 0.6% to 321,200mt

https://www.chemnet.com Aug 09,2010
Fuel oil delivery stock for futures in nine appointed terminals of the Shanghai Futures Exchange was 321,200mt in total as of Aug 6, slightly up 4,200mt or 0.6% from one week ago, according to data released by SHFE. The volume accounted for 44.07% of the total storage capacity. Fuel oil delivery warrants inched higher 900mt to 153,300mt.

The delivery warrants fell 3,300mt in PetroChina Fuel Oil's Zhanjiang oil terminal, while rose 4,200mt in Zhejiang Offshore Petrochemical's oil terminal, which was rarely seen this year. The spot-futures arbitrage margin has provisionally opened this week, stimulated some traders to register warrants on the SHFE, market sources denoted.

Ex-terminal price of mixed/cracked 180CST high-sulfur fuel oil closed at Yuan 4,340/mt in South China Friday, equivalent to Yuan 4,465/mt on the futures market, Yuan 12/mt lower than futures prices.

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