Divergent Dollar: Steady Yuan, Elevated Yen, Firmer Won Reshape Delivered Cost
USD/CNY held at 6.705, USD/JPY ticked to 158.23, USD/KRW eased to 1337.95. This week's delivered-cost revaluation runs on a yuan anchor with small JPY/KRW offsets.
SNSUC Research · Tag archive
USD/CNY held at 6.705, USD/JPY ticked to 158.23, USD/KRW eased to 1337.95. This week's delivered-cost revaluation runs on a yuan anchor with small JPY/KRW offsets.
Asphalt futures plunged 3.50% to ¥5,013/t—the steepest one-day drop in three weeks—while fuel oil held up (+0.36%), exposing quota-driven displacement. Customs now mandates blockchain-verified proof of offshore resale within 72 hours of trade execution; late submission triggers automatic customs rejection.
Article 14 of the Guidelines on FX Business for Trade in Goods requires offshore resale trades to settle at one bank in one currency; cross-bank or cross-currency deals must note "special offshore resale" and be reported to the FX authority within five working days. SNSUC's seven-grade transshipment settlement structure must adapt.
FX facilitation for compliant offshore resales shifts document review from pre-check to sampling, cutting crude entrepot settlement from T+2 to T+1; the precondition is three-document consistency and traceable title.