Asia/Pacific News
China's 180 cSt Blending Margins "Deeply Negative"
Monday August 11, 2014
Margins for blending 180 cSt bunkers last week were still deeply negative in East and South China, according to a report by C1 Energy citing ICIS C1 data.
On August 7 the margins averaged minus yuan (CNY) 440 per tonne In East China, versus minus CNY435 per tonne a week ago.
Prices for 180 cSt bunkers for the week ending August 7 were said to have declined by CNY25 per tonne to CNY4,400-4,500 per tonne.
While still negative, lower blendstock costs were said to have helped ease the losses in South China, where margins were minus CNY338 per tonne on August 7, an improvement on minus CNY345 per tonne a week ago.
