Four traders told Reuters that China will restart October gasoline, diesel and jet exports after a Golden Week pause. Two industry participants put the approved volume near 3.7 million metric tons.
China is set to resume October exports of refined fuel after a short halt during the Golden Week holiday, four traders told Reuters on Friday. The restart would add gasoline, diesel and jet fuel to a market the traders described as tight, especially for diesel.
Two other industry participants told Reuters that October exports of the three fuels had been approved at about 3.7 million metric tons combined. Reuters had earlier reported that Chinese refiners were expected to export slightly more than 4 million tons in September.
June Goh, a senior analyst at Sparta Commodities, said the resumption was expected but the volumes were lower than anticipated. Beijing usually sets fuel-export quotas and has recently vetted shipments month by month, Reuters reported.
China began the National Day holiday on 1 October without giving major refiners a green light to export to regions other than Hong Kong and Macau, Reuters reported last week. Friday's account is that the pause is ending.
The figures come from traders and industry participants, not from a published ministry notice in the Reuters story. A later official quota list could differ.
People Sentiments Neutral
- June Goh of Sparta Commodities said the export resumption was expected but the volumes were lower than anticipated.