On June 29, the domestic fuel oil market trended downward. Ex-depot quotes for low-sulfur 180cst fuel oil ranged from 5,800 to 6,300 RMB/tonne, while quotes for low-sulfur 120cst fuel oil ranged from 5,900 to 6,400 RMB/tonne. Regarding the spot market, prices declined, with the trading center of gravity shifting lower—a factor exerting moderate downward pressure on spot prices. In the futures market, the settlement price for the SHFE fuel oil benchmark contract (2609) closed at 2,975 RMB/tonne on June 26, up 40 RMB/tonne from the previous settlement; however, the current weakness in the spot market is expected to exert some downward pressure on future trading performance.

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