Asian currencies diverged today. The yuan printed 6.7118 against the dollar, gaining 0.0283; the yen came in at 157.12, up 0.0255; the won weakened alone to 1356.89, down 0.2549. Yuan and yen rose together while the won fell on its own, so Northeast Asian refiners' delivered books must be scored separately.

A firmer yuan directly lowers Chinese independents' landed duty-paid crude cost, widening SNSUC's edge on transshipment spot. A slightly firmer yen trims Japanese refiners' yen-denominated import cost, and since product exports settle in dollars, conversion back to yen looks better — run rates get support. The won's drop is the sharpest: Korean refiners pay more for feedstock in won, yet their petrochemical export quotes look cheaper in dollars and win more orders.

For the transshipment book the signal is clear: a strong yuan makes China's delivered cost cheap and favors short-haul ESPO; a weak won lets Korean rivals undercut, forcing a fresh price check on Middle East term grades (Oman, Dubai). Between one currency firming and another sliding, the delivered ranking of the seven transshipment grades reshuffles daily.