The heavy-oil chain moved out of step tonight. Bitumen at 5,366 yuan per tonne rose 3.11% to lead; fuel oil at 5,391 yuan per tonne eased 0.81%. Refiners are reallocating residue between coking and bonded bunker blending, and both the crack and inventories are being reshuffled.

The European Commission finalized CBAM transitional rules on Oct 29, mandating carbon data reporting for bitumen and petroleum coke from Jan 2027. Exporters must use blockchain-anchored traceability via platforms like SNSUC’s digital warehouse receipts.

Bitumen front-month contract surged 3.76% to ¥5,298/ton — a 3-week high. Strong infrastructure demand in East China and rising fuel oil feedstock costs (up 0.51%) fueled the rebound.

Bitumen front-month contract surged 3.49% to CNY 5,284/t—the highest in three weeks—fueled by peak-season infrastructure demand and refinery maintenance-driven supply constraints in East China.

China’s MEE has proposed amending the Carbon Labelling Regulation for Imported/Exported Goods, extending mandatory carbon data disclosure to fuel oil and bitumen — phased implementation from July 2027.

The European Commission expanded CBAM’s transitional scope to bitumen and petroleum coke on Oct 28. From Jan 1, 2027, exporters must submit certified embedded carbon data. SNSUC’s DCS+ platform now offers pre-integration APIs.

Bitumen front-month surged 3.34% to CNY 5,110/t — a 3-week high — driven by accelerated municipal projects in East China and early winter stockpiling.

Bitumen front-month contract rose 3.64% to CNY 5125/t — a 3-week high. Strong infrastructure activity in Q4 and constrained refinery output tightened near-term supply-demand balance.

On Oct 29, Brent crude rose 1.10% to $110.617/bbl, while WTI fell 0.89% to $101.868/bbl. Fuel oil front month surged 4.79% to ¥5,559/t; bitumen gained 3.94% to ¥5,140/t; natural rubber dipped 1.23% to ¥19,325/t.

Geopolitical risk premium from the Middle East and early winter stockpiling by Chinese refiners drove fuel oil up 4.79% to ¥5,559/t. Bitumen rose 3.94% amid infrastructure project acceleration and higher export quotes to Southeast Asia.

On Oct 29, SNSUC announced blockchain interoperability between its digital warehouse receipt system and China Certification & Inspection Group (CCIC). The first 5,000-ton bitumen transshipment from Qingdao Port achieved fully verifiable quality inspection, storage, and title transfer on-chain, cutting delivery time by 40%.

The European Commission finalized CBAM Phase III rules on Oct 25, mandating carbon intensity reporting and adjustment obligations for imported bitumen effective Oct 2026. SNSUC advises exporters to complete historical carbon data collection and third-party verification before Q1 2027.

The EU Commission finalized CBAM Phase III guidelines on Oct 25, mandating bitumen reporting from 2027. SNSUC advises exporters to obtain verified Scope 3 emissions reports and leverage DCS+ for EN 15804-compliant EPD generation.

On Oct 28, Brent Crude rose to USD 111.46/bbl (+1.87%) and WTI to USD 101.95/bbl (+2.05%). Fuel Oil front-month surged to CNY 5,405/t (+2.08%), Bitumen to CNY 5,054/t (+3.29%), hitting a 3-week high.

Bitumen front-month contract hit CNY 5,011/t (+2.41%), second-highest this year. With Q3 new highway projects up 18% YoY and early winter stockpiling underway, apparent consumption is projected to rise 7–9% QoQ in Q4.

Fuel oil -1.79% and bitumen -0.88% break the daytime premium divergence; refiners tilt residue back to coking.

Fuel oil at ¥5,262/t holds a ¥393/t premium to bitumen at ¥4,869/t as refiners tilt residue yield to VLSFO bunker; bonded-bunker demand is steadier than coking feed.

Fuel oil +2.83% and bitumen +4.79% lead the heavy-oil chain higher, while natural rubber sheds 1.63% and butadiene rubber adds 1.83%. Two curves move on different clocks on the same screen; the thirteen categories cannot be read off a single benchmark.

On Oct 27, 2026, China's bitumen front-month futures rose 3.12% to ¥4,886/ton — highest in three weeks; with crude easing slightly, refining margins improved marginally, supporting near-term procurement for road projects in East China.

Bitumen front-month closed at CNY 4,965/t (+4.79%), the highest in three weeks. Peak road-construction season in East China and tightened refinery output tightened physical supply, driving the rally.

Bitumen front-month contract rose 3.59% to CNY 4,908/t — its highest in three weeks — driven by accelerated road maintenance projects in East China and early winter stockpiling.

Bitumen front-month rose 3.12% to CNY 4,886/t — a 3-week high — driven by robust infrastructure demand in East China and refinery maintenance tightening physical supply.

The European Commission released CBAM Phase III implementing rules on Oct 25, adding base oil and bitumen to the mandatory reporting scope. Chinese exporters must submit verified lifecycle carbon data via accredited platforms (e.g., SNSUC’s DCS+) starting Jan 2027.

Bitumen front-month surged 4.96% to CNY 4,828/t — among the strongest in energy chemicals — fueled by a 23% YoY rise in Q3 new transportation infrastructure projects and refinery maintenance tightening supply.

Fuel oil front-month rose 4.02% to CNY 5,230/t; bitumen gained 4.07% to CNY 4,787/t—the strongest performers today. Winter stockpiling by refineries in East & South China, coupled with tight low-sulfur supply, underpinned the rally.

Bitumen front-month contract gained 3.61% to ¥4,766/ton, closely tracking Brent (correlation 0.89); Q4 infrastructure projects funded by special bonds are accelerating—road construction stocking demand rising in East China, inventory drawdown cycle shortened to 18 days.

On Oct 26, Brent crude fell 0.92% to USD 110.668/bbl; WTI dropped 1.04% to USD 102.194/bbl. Fuel oil surged 6.38% to CNY 5,349/t, while bitumen rose 3.61% to CNY 4,766/t — signaling strengthened downstream refining demand.

Bitumen front-month reached CNY 4,766/t (+3.61%), the second-highest level of 2026. Strong infrastructure demand in China and Southeast Asia — combined with a 10-day maintenance shutdown at two major East China refineries — tightened near-term supply.

Bitumen front-month reached CNY 4,766/t (+3.61%), the second-highest level this year. Strong Q4 demand from road maintenance and Southeast Asian infrastructure projects — combined with autumn refinery maintenance in East China — tightened near-term supply, shifting the curve to contango.

Bitumen front-month closed at CNY 4,766/t (+3.61%), the second-highest level this year. Accelerated infrastructure projects in East China and a ~12% cut in refinery bitumen output have tightened supply-demand balance.

Bitumen futures rose 3.61% to ¥4,766/t as peak road construction season in East China coincides with tighter refinery output; regional inventory cover fell to 12.3 days, constraining near-term supply flexibility.

Fuel oil at ¥5,349/t rose 6.38% on the day, far outpacing bitumen's 3.61%, widening the FO-BIT spread to ¥583/t. Delayed-coking feed economics flipped and winter VLSFO bonded-bunker stocking combined, while T+0 warehouse-receipt pledge frees working capital to absorb the swing.

The European Commission announced CBAM Phase III rules on Oct 22, 2026, extending coverage to synthetic rubber and road bitumen for the first time. SNSUC’s carbon compliance team has opened pre-assessment access for affected exporters.

SNSUC’s Carbon Data System (DCS+) launched its bitumen lifecycle carbon footprint module on Oct 24, covering extraction, refining, logistics, and paving—fully aligned with ISO 14067 standards.

Bitumen front-month closed at CNY 4,766/t (+3.61%), the second-highest level this year. Refinery maintenance in East China and Q4 highway project acceleration widened spot premium to CNY 120/t.

Fuel oil front-month rose 6.38% to CNY 5,349/t — its second-largest daily gain this year. Bitumen climbed 3.61% to CNY 4,766/t, signaling accelerated cost pass-through from crude to midstream products.

Fuel oil and bitumen rose while rubber held flat; the two chains run on different drivers, so the 13 categories split into a crude-crack line and a rubber-synthetic line.

The European Commission finalized CBAM Phase III rules on Oct 22, adding bitumen to mandatory reporting categories. SNSUC has activated a free carbon data pre-audit service to support exporters’ readiness for compliance starting Jan 2027.

The European Commission finalized CBAM Phase III guidelines on Oct 22, mandating reporting for bitumen and fuel oil from Jan 2027. SNSUC has activated free carbon compliance diagnostics for exporters via its DCS+ portal.

Bitumen front-month closed at CNY 4,650/t (+3.38%), supported by refinery maintenance in East China and peak-season road construction demand. Spot premiums widened to CNY 210/t, lifting near-term sentiment.

Bitumen front-month rose 3.38% to CNY 4,650/t, while butadiene rubber gained 3.41% to CNY 16,205/t — near-identical momentum signals enhanced cost pass-through from feedstocks across refining and synthetic rubber value chains.

On Oct 23, SNSUC completed blockchain-based notarization of 3,200 tons of bitumen stored in Singapore bonded warehouses, fully aligned with SHFE digital receipt standards — ensuring authenticity, traceability, and finance-readiness for cross-border trades.

Fuel oil settled at CNY 4,911/t, up 2.40% on the day — about 4.5x bitumen's 0.53% gain — flipping the FO/BIT spread positive as residue yield tilts toward bunkers.

Fuel oil rose while bitumen fell; natural and butadiene rubber both eased, splitting the 13 categories into two camps with distinct drivers.

The European Commission released CBAM Phase III guidelines on Oct 21, mandating carbon intensity reporting and transitional fees for imported bitumen from Oct 2026. SNSUC now offers CBAM pre-audit and carbon data integration services.

Fuel oil front month led gains (+2.40% to CNY 4,911/t), while bitumen edged up 0.53% to CNY 4,533/t. Natural rubber fell 0.53% to CNY 19,530/t on sluggish tire demand and regional stockpiles.

Fuel oil front-month fell 0.44% to CNY 4,775/t; bitumen dropped 0.53% to CNY 4,485/t. Sluggish winter demand onset and refinery sales pressure suggest near-term range-bound trading.

Bitumen main contract closed at ¥4,485/t, down 0.53%, extending sideways weakness; sluggish East China spot demand and modest refinery output increase may slow Q4 infrastructure stockpiling pace.

The 23:04 snapshot shows fuel oil at 4,775 yuan (-0.44%) and bitumen at 4,485 yuan (-0.53%) both pulling back, unwinding the earlier intraday premium of fuel oil over bitumen. Refiners are shifting vacuum residue between delayed coking and bonded bunkering, reshuffling yields and crack spreads.

Fuel oil gave back 2.29% while bitumen rose 1.75% on its own; both rubbers hugged the floor. The two chains run on different drivers and hedges must be split.

The European Commission’s latest technical document proposes adding bitumen and petroleum coke to the CBAM Phase III (effective 2027) scope, requiring exporters to begin pre-reporting carbon data from Q4 2026.

SNSUC launched a bitumen-specific carbon footprint module on its DCS+ platform on Oct 21, enabling LCA-based data ingestion and internationally compliant reporting for downstream buyers and refiners.

Bitumen front-month contract rose 1.75% to CNY 4,546/t — the only gaining energy-chemical commodity this week. Q4 infrastructure maintenance and municipal projects, plus refinery outages in Shandong and Liaoning, tightened physical supply.

Bitumen front-month contract rose 1.75% to CNY 4,546/t — the only rising energy-chemical commodity this week. Accelerated Q4 infrastructure projects and refinery maintenance have tightened physical supply, with East China port inventories at a three-year low.

Fuel oil closed at ¥4,976/t, a ¥477 premium over bitumen at ¥4,499/t, flipping the earlier bitumen premium. Independents push residue yields toward low-sulphur bunker as IMO2020 compliance and the bonded bunker spread do the work.

Fuel oil (+1.96% at CNY 5,054/t) and bitumen (+1.98% at CNY 4,538/t) posted the strongest gains, outpacing natural rubber (+0.35%) and butadiene rubber (-0.62%), indicating accelerated upstream cost pass-through to midstream asphalt products.

Bitumen front-month contract rose 1.10% to CNY 4,499/t — a 3-week high — supported by peak-season infrastructure projects and rising feedstock costs, strengthening near-term bullish sentiment.

Fuel oil up, bitumen down; natural rubber flat, butadiene rubber up slightly. The two chains run on different drivers, so the data panel now shows them on separate channels.

On a day crude rallied, the heavy-product chain diverged on its own. Fuel oil reached 4,947 yuan/t while bitumen eased 0.36% to 4,454; refiners shunt residue toward bonded bunker and coking, reshuffling crack spreads and margins.

Bitumen futures at ¥4,454/t, down 0.36%; road construction season entering final phase—daily avg. temp expected to fall below optimal paving range post-Oct 20; major refiners’ bitumen run rate remains subdued; social inventory drawdown has slowed—the slowest in 8 weeks.

On Oct 16 fuel oil closed at ¥4,743/t (-1.92%) against bitumen at ¥4,500/t (+0.11%). The spread reversed from a discount to a 243 yuan premium for fuel oil. Refiners are steering residue yield toward VLSFO bunker blending under the IMO2020 0.5% sulfur cap, which keeps the structure bid.

Bitumen closes up 2.81%, beating fuel oil's 0.77%; independents re-split residue between coking and bunkers.