IOCJ-PBF Price spread narrows sharply amid tariff concerns

The price spread between IOCJ and PBF narrowed significantly since early April. As of April 10, the price spread declined by Yuan 10/tonne from April 1, reaching Yuan 89/t.

Prior to the Tomb Sweeping Holiday, the price spread between IOCJ and PBF remained stable at Yuan 99/t. However, post-holiday, the differential narrowed notably, down Yuan 10/t on-week to Yuan 89/t as of April 10. This shift was largely driven by global commodity market reactions to the newly announced