China Curbs Fuel Exports While Keeping Hong Kong Supplies

China is implementing a strategy to curtail refined fuel exports rather than enforcing a total ban, according to recent shipping data and market traders. While Beijing extended its export restrictions into April, several nations, including Malaysia and Australia, continue to receive essential supplies. The reduction in shipments has intensified this month, with exports of GASOIL DIESEL ETC VON BNPP, jet fuel, and WT GASOLINE to destinations other than Hong Kong falling to approximately 320,000 metric tons in the first half of April—a significant drop compared to the previous year.