ICIS provides unrivalled market intelligence for the evolving base oils market.
Updated to Q3 2019
Group I
Supply of lighter grade SN150 in Asia will likely remain tight, as refiners are gradually shifting away from Group I to Group II or III production. Supply of SN500 and brightstock will likely increase as several refiners in northeast and southeast Asia are expected to restart their units in the third quarter after completing turnarounds.
Demand in northeast and southeast Asia is expected to pick up in the third quarter with the seasonal lull coming to an end in July or August. However, uncertain geopolitical events may hamper any hope of a significant pick-up in demand. In India, buying interest will likely improve slightly with the passing of the monsoon season.
Group II
Supply is expected to decrease as some refiners will likely cut their operating rates amid a supply glut. The recent recovery in crude and gas oil prices following a slump in late May may prompt some refiners to switch to produce more gasoil for better margins instead base oils.
Demand in northeast and southeast Asia is expected to improve in August or September with the onset of the traditional peak demand season. However, uncertainties surrounding the global economy may curb the extent of any demand pick-up. Demand in India is also expected to recover in the third quarter with the end of the monsoon season.
Group III
Supply from northeast Asia is expected to stay constant in the third quarter as there are no known upcoming turnarounds at a couple of major South Korean Group III refiners’ units for the remainder of the year. Meanwhile, the supply of Middle Eastern material will also likely remain relatively subdued.
Demand for South Korea-origin 4, 6 and 8cst cargoes may improve slightly towards August or September with the approach of the traditional peak demand season. However, uncertainties on the geopolitical front as well as volatile crude oil prices will likely hamper the extent of any demand pick-up.
We offer the following regional Base oils-Lubes analysis and news coverage to keep you informed of factors and developments affecting prices in the Base oils-Lubes marketplace.
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News & analysis
ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
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The main use for base oils is in the manufacture of lubricants, of which there are many thousands of types.
The Base Oils/Lubes Pricing report delivers daily and weekly price assessments, market news and analyses for the Asian base oils/lubes market. Whether you are a buyer, trader or seller, our pricing information gives you access to time-sensitive deals, offers/bids and price movements. Historical pricing data is also available.
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The report also includes trade flows and demand from the finished lubricants sector. Shipping and feedstock information completes the market coverage.
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