On January 30, the domestic fuel oil market experienced an upward trend. The ex-works low-sulfur quotations for 180cst fuel oil were 5,250–5,350 yuan/ton, while those for 120cst fuel oil were 5,350–5,450 yuan/ton. PriceSeek’s analysis of fuel oil indicates a bullish-bearish score of 2. The report shows that on January 30, the spot market for domestic fuel oil saw rising prices, with ex-works low-sulfur quotations for 180cst and 120cst increasing to 5,250–5,350 yuan/ton and 5,350–5,450 yuan/ton, respectively. This suggests strong spot demand or tightening supply, which constitutes a significant positive factor for spot prices. Combined with recent futures data, the main fuel oil contracts (such as 2605 and 2606) generally rose on January 29, with increases of 85–86 yuan/ton. The rise in spot prices may reinforce bullish sentiment in the market, driving further upward movement in futures prices and benefiting the futures market.
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