Prices Are Expected To Drop Further
UCO flexi: Chinese domestic market is under discussion but selling and buying idea are too wide to reach deals. Domestic producers are unwilling to lower their offers in North of China. But Southern market dropped more.
North of China: FFA7 are offered at $570/t fob but very difficult to make deals. Offer to Malaysia is at $590/t cif, FFA5. Buyers in Malaysia reduced the buying volume since they have reached their target this year.
South of China: FFA7 are offered at $550/t fob, $20/t lower from North.
UCO bulk: Deals are done at $575/t DAT Tianjin.
Feedstock swill oil has decreased to 4000/t ($579/t). Chinese GOV has strictly controlled Swing oil for feeding. In that case, most UCO are supplied for Chemical use. Blending oil demand also decreased with falling diesel prices. Supplies pressure has been eased down.
Ucome: Local market has been dragged down by crude prices. Most local producers are interested in exporting again.
Prices dropped by Yn400-500/t last week and lower by Yn100-200/t this week.
Northern producers sell to domestic market lower to Yn5,800/t($840/t) with VAT. Prices are expected to drop further.
Flexi offers are lower to $860-880/t fob, north China but bids down at around $830/t.
ZHEJIANGJIAAO ENPROTECH STOCK CO.,LTD
ADD: No.1 Economic & Development Zone,Tongxiang, Zhejiang, China
Contact: Gray Li
Gray LI Mobile:0086-15888317761
Contact: Joey Deng
Joey Deng Mobile:0086-13763320723