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Market Chatter: China Eases Refined Fuel Export Curbs for July

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China has temporarily removed refined fuel export curbs through July and authorized Zhejiang Petrochemical, a private refiner, to restart deliveries after a four-month stoppage, Reuters reported Wednesday.

Sources said Zhejiang Petrochemical, majority-owned by Rongsheng Petrochemical (SHE:002493), received approval for July exports after being suspended for over three months, according to the report.

Refiners plan to export about 3 million metric tons of fuels this month, including bonded volumes to Hong Kong and Macau, matching last year's average, Reuters wrote.

Cargo scheduling is ongoing and expected to finalize by week's end. It remains unclear whether the easing will extend into August, according to the report.

China's Ministry of Commerce, the National Development Reform Commission and Rongsheng did not immediately respond to' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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