On January 21st, the domestic fuel oil market was sorted out, with a self extracted low sulfur quotation of 5,050-5,350 RMB/ton for 180cst fuel oil and 5,150-5,450 RMB/ton for 120cst fuel oil.

The article reports that the spot prices of domestic fuel oil have stabilized, with a self extracted low sulfur price of 5,050-5,350 RMB/ton for 180cst and 5,150-5,450 RMB/ton for 120cst, indicating a balanced supply and demand in the spot market with no significant fluctuations and a neutral impact. At the same time, based on the latest futures data, the main contracts for fuel oil, such as 2603, closed at 2,542 RMB/ton (up 22 points), 2605, closed at 2,539 RMB/ton (up 21 points), with active trading volume (such as 493,603 lots in 2603), and changes in holdings indicate an increase in market bullish sentiment, which is a significant positive for futures prices. Taking into account both neutral spot prices and favorable futures factors, it is expected that short-term futures prices may continue their upward trend.

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