ResearchIndustry2026-10-25
Bonded bunker restocking tightens fuel oil; Zhoushan's vessel rush reshapes regional spreads
Fuel oil at 5,349 RMB/t, +6.38%, was the only category to jump over 6% today, driven by bonded bunker-fuel (VLSFO) restocking as international transshipment vessels concentrate at Zhoushan. Tightening spot supply intensifies the fight for residue between domestic coking and bunkering.