NEW DELHI, May 20 (Reuters) - Asia's low-sulphur fuel oil (VLSFO) market gained on Monday amid a flurry of deals at the trading window and upbeat import data from China.
Cash premiums for VLSFO were up about $1 at $8 a metric ton. Premiums for high-sulphur fuel oil (HSFO) remained little changed as trading was scanty. Cash differential for 180-cst HSFO was pegged at a premium of $8.85 a ton, while the premium for 380-cst traded at $7.43 per ton.
China's imports of fuel oil rose 10% in April from a year earlier to 2.93 million metric tons, data from the General Administration of Customs showed on Monday, the highest level since at least 2020, according to Reuters' records.
The April imports, which equate to about 620,180 barrels per day, were 48% higher than in March, as traders brought in more shipments from Venezuela and Iran, according to trading sources familiar with the transactions.
OTHER NEWS - Iran-backed Houthi militants on Saturday hit a Panamanian-flagged oil tanker off Yemen's Red Sea coast with an anti-ship missile but the crew was able to restore power and maintain course, the U.S. military said.
- The Importpischeprom oil products terminal at Russia's Black Sea port of Novorossiisk resumed fuel loadings on May 18 after suspending operations following a drone attack a day earlier, according to industry sources and LSEG data.
- South Korean petrochemical producers are maximising the use of cheaper feedstock liquefied petroleum gas (LPG) at their crackers, reducing naphtha demand from the region's top importer, according to industry officials and government data.
WINDOW TRADES - 180-cst HSFO: No trade - 380-cst HSFO: No trade - 0.5% VLSFO: Four trades
ASSESSMENTS FUEL OIL
CASH ($/T) ASIA CLOSE CHANGE PREV RIC CLOSE Cargo - 0.5% VLSFO 612.99 6.40 606.59 MFO05-SIN Diff - 0.5% VLSFO 8.00 1.17 6.83Cargo - 180cst 523.05 10.02 513.03 FO180-SIN Diff - 180cst 8.85 0.08 8.77 Cargo - 380cst 510.25 10.78 499.47 FO380-SIN Diff - 380cst 7.43 0.05 7.38 Bunker (Ex-wharf) 8.00 0.25 7.75 Premium - 380cst Bunker (Ex-wharf) 8.00 0.00 8.00 Premium - 0.5% VLSFOFor a list of derivatives prices, including margins, please double click the RICs below. Brent M1 BRENTSGMc1 180cst M1 FO180SGSWMc1 180cst M1/M2 FO180SGSDMc1 180cst M2 FO180SGSWMc2 Visco M1 FOVISSGDFMc1 Visco M2 FOVISSGDFMc2 380cst M1 FO380SGSWMc1 380cst M1/M2 FO380SGSDMc1 380cst M2 FO380SGSWMc2 Cracks 180-Dubai M1 FO180SGCKMc1 Cracks 180-Dubai M2 FO180SGCKMc2 East-West M1 FOSGEWMc1 East-West M2 FOSGEWMc2 Barges M1 HFOFARAAMc1 Barges M1/M2 HFOFARAASMc1 Barges M2 HFOFARAAMc2 Crack Barges-Brent M1 HFOFARAACMc1 Crack Barges-Brent M2 HFOFARAACMc2
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NEW DELHI, May 20 (Reuters) - Asia's low-sulphur fuel oil...
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