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What impact does the fluctuation of fuel oil futures price have on China's economic growth?
Just look at the fuel oil futures inventory data as of 20 18.03.02.

Shipments are sluggish, and the domestic heavy oil trend is hard to change.

Although crude oil rebounded slightly this Monday (March 5), the domestic heavy oil market has limited favorable support. Under the wait-and-see situation of downstream exhaustion, the procurement demand is dull, and the overall transaction fluctuates downward.

At present, the turnover of Shandong high-density pulp (density1.08-1.02) is 2400-2550 yuan/ton, and that of low-density pulp (density 1.02- 1.07) is 2600 yuan/ton. In the residue market, the transaction price of Shandong 200# mainstream is 3,000-3,060 yuan/ton, and that of North China 200# mainstream is 3,050-3100 yuan/ton; The transaction price of East China low sulfur asphalt is 2800-2900 yuan/ton.

In terms of slurry, in March, the demand of downstream waterproofing membrane and blending market was still light, and the amount of slurry in refinery was average. Refineries continue to increase preferential efforts, and trading centers have declined steadily. Today, the quotation of pulp refining in many places in Shandong fell, and the downstream receiving mood was not good. In terms of residual oil, refined diesel oil is mixed, coking raw material shipments are sluggish, and refinery prices continue to be depressed due to outbound pressure. It is understood that the price of Hengrunde slag drops 150 yuan/ton to 3,050 yuan/ton, and the shipment can still be resumed. The latest offer is 3050 yuan/ton.

Refinery dynamics: 17, 17 On February 20th, the atmospheric and vacuum distillation unit of CNOOC Energy was shut down, and the start date was to be determined; 1712193 million tons/year atmospheric and vacuum distillation unit was shut down, and the start date was to be determined; 18 65438+ 1012 million tons atmospheric and vacuum distillation unit was shut down and started on February 23rd; Yatong's 3,500,000-ton atmospheric and vacuum distillation unit is scheduled to be overhauled in March 1, and the commencement date is to be determined.

The market outlook predicts that the international oil price will fluctuate, the direction of the refined oil market is unclear, and the domestic heavy oil market lacks favorable boost. It is expected that it will fall into a consolidation state in the short term, and local prices will continue to fall.