SINGAPORE: Asia’s very low sulphur fuel oil (VLSFO) market was mostly steady on Monday after tumbling last week, as some spot buying emerged following several days of scant trade.

The 0.5% VLSFO cash differential was at a premium of $4.15 per tonne to Singapore quotes on Monday, edging 45 cents lower from the previous session.

Consistent offers and steady arbitrage arrivals have weighed on the market since mid-October, while seasonal demand from North Asia turned out to be capped, industry sources said.