Fuel oil at 5,349 RMB/t, +6.38%, was the only category to jump over 6% today, driven by bonded bunker-fuel (VLSFO) restocking as international transshipment vessels concentrate at Zhoushan. Tightening spot supply intensifies the fight for residue between domestic coking and bunkering.

Fuel oil at ¥4,911/t rose 2.4%, outpacing bitumen at ¥4,533/t at 0.53%; the split came from bonded bunker restocking against road off-season demand. Zhoushan is competing for international transshipment slots, and its VLSFO premium to Singapore has narrowed.