Import Quota Utilization at 83%; Fuel Oil & Asphalt Clearance Time Cut to 2.1 Days
As of Oct 26, China’s non-state crude import quota utilization reached 83%; average clearance time for fuel oil and asphalt dropped to 2.1 days. Fuel oil futures surged +6.38% to ¥5,349/t; asphalt +3.61% to ¥4,766/t — quota tightening and faster customs clearance are triggering physical booking by bonded traders.