rongsheng petrochemical bloomberg in stock

Zhejiang Rongsheng Holding Group Co., Ltd. operates as an investment company. The Company offers industrial investment, financial investment, investment consulting, and other services. Zhejiang Rongsheng Holding Group also operates in real estate development, business management consulting, and other businesses.

(Bloomberg) -- The global oil market keeps sending up flares on the outlook for weaker demand. In the latest, a closely-watched gauge of Asian crude consumption tumbled to a seven-month low as surging virus cases in China trigger lockdown-like restrictions in the world’s biggest importer.

With physical trading this month mostly concluded for January-loading cargoes, spot premiums for key Persian Gulf grades have declined sharply. While China’s Rongsheng Petrochemical Co. did purchase about 7 million barrels mid-month, that wasn’t enough to lift the sentiment, traders of those grades said.