Price trend
According to the data of SunSirs, as of May 19, the average price of domestic fuel oil 180CST was 6,430.00 RMB/ton (both tax included), which was stable compared with the previous trading day and increased by 37.17% year-on-year.
Analysis review
The international crude oil price fell, the terminal demand in the market was weak, the downstream purchasing sentiment was cautious, and the wait-and-see sentiment was strong. The overall market transaction was light, and companies mainly destocked.
As of the 19th, the market price of 180CST low-sulfur fuel oil was around 6,350-6,450 RMB/ton, and the market price of 120CST low-sulfur fuel oil was around 6,450-6,550 RMB/ton. One order one negotiation.
Market outlook
It is expected that the fuel oil 180CST market will be dominated by consolidation in the near future.
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