The FX tape today splits three ways: the dollar weakened against the yuan but firmed against the yen and won, so delivered cost in local currency has to be computed separately. USD/CNY printed 6.6680, with the yuan up 0.033 from the prior session; EUR/CNY at 7.4660 also shows the euro softer against the yuan.

For SNSUC's dollar-priced crude imports, a firmer yuan directly lowers the yuan-equivalent delivered cost. The same $100/bbl Middle East barrel now converts to roughly 0.3% fewer yuan than a week ago — a real buffer against FX loss across the re-export tenor.

On the yen side, USD/JPY rose to 157.32, the yen still soft; USD/KRW at 1323.71 is essentially flat and soft. That means downstream customers settling in yen or won are losing local-currency purchasing power against the dollar, so when we quote CFR to Japanese and Korean buyers we bake that exchange discount in up front, rather than let settlement-day FX eat the margin.

EUR/USD at 1.1199 is flat, so the European leg shows no clear move. Net, today's FX mix is friendly to yuan buyers and demanding for yen and won buyers; pricing has to split by currency instead of using one blanket number.