Negative refining margins for minor refineries in South China's Guangdong Province improved as feedstock prices declined, a survey found.
The margin was minus Yuan 142/mt on average in theory Wednesday, versus minus Yuan 216/mt one week ago and minus Yuan 448/mt a year earlier, it's estimated.
Ex-terminal prices of straight-run fuel oil, feedstock for the refineries, were Yuan 4,840-4,860/mt in South China Wednesday, down Yuan 100/mt on week.
In the period, ex-terminal prices of high-sulfur residue were unchanged at Yuan 3,750-3,800/mt on limited supply, while substandard gasoil inched lower Yuan 50/mt to Yuan 5,850-5,950/mt amid declining demand.
The margin was minus Yuan 142/mt on average in theory Wednesday, versus minus Yuan 216/mt one week ago and minus Yuan 448/mt a year earlier, it's estimated.
Ex-terminal prices of straight-run fuel oil, feedstock for the refineries, were Yuan 4,840-4,860/mt in South China Wednesday, down Yuan 100/mt on week.
In the period, ex-terminal prices of high-sulfur residue were unchanged at Yuan 3,750-3,800/mt on limited supply, while substandard gasoil inched lower Yuan 50/mt to Yuan 5,850-5,950/mt amid declining demand.
