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Home Commodities Energy Base-oils-lubes Base oils-Lubes Asia prices, markets & analysis

Base oils-Lubes Asia prices, markets & analysis

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  • Regional Outlook
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ICIS provides unrivalled market intelligence for the evolving base oils market.

  • Pricing information
  • Real-time data on bids, offers and deals
  • News and market updates
  • In-depth annual studies
  • Supply and demand data (up to 2030)

Use ICIS information to:

  • Follow price fluctuations and drivers
  • Monitor supply/demand dynamics
  • Input into your own internal analytical models
  • Negotiate contracts using a direct price reference

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Regional Outlook

Updated to Q1 2021

Group I

Supply is likely to stay tight, with Japan’s ENEOS Corp planning to take one of its units offline for a 120-day turnaround from February. A couple of Thai refiners are also expected to continue running their units at reduced rates due to poor production margins amid tepid demand for other fuel products.

Demand in China and southeast Asia is expected to pick up in January ahead of the Lunar New Year holiday before the market slows down in H1 February for the holiday. Demand in India is likely to improve in Q1 as the downstream automotive sector is expected to gradually recover.

Group II

Supply from northeast Asia is likely to stay largely constant, with the impact of the planned turnaround at South Korean GS Caltex’s Group II unit in March to be offset by the expected resumption of Taiwanese Formosa Petrochemical Corp’s (FPCC) unit to full capacity, from 90%, in February.

Demand in China and southeast Asia will likely strengthen in January ahead of the Lunar New Year holiday, before slowing down in first-half February for the holiday. Demand in India will likely pick up in Q1 as the downstream automotive sector is expected to gradually recover.

Group III

Supply in Q1 is expected to be curbed as South Korean SK Lubricants will take its 1.7m tonne/year Group III base oils unit offline for scheduled maintenance in March 2021 for one month. The impact of this may be partially offset as more Middle Eastern cargoes are expected to head to Asia, amid the escalating coronavirus situation in Europe.

Overall demand in Asia, including India, is expected to pick up as the key downstream automotive sector will likely gradually recover with the roll-out of the coronavirus vaccine. Demand in China and southeast Asia is expected to dip slightly in first-half February due to the Lunar New Year holiday.

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Our products

Base oils-Lubes news news and market information products from ICIS

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.

Price reporting

  • More information about the price reports we publish on Base oils-Lubes
    Independent price assessments and market coverage by region

    • Asia Base Oil Producer Investigation Annual 
      • Base oils Asia

Price history

  • More information about the historical price data we publish on Base oils-Lubes
    Track historical price data

    • Base oils-Lubes Asia

News & analysis

  • News & market analysis specifically relating to Base oils-Lubes
    Breaking news of latest developments affecting the markets.Insight and analysis of factors driving prices.
Find out more about our services

Methodology

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.

Our in-depth market knowledge drives our specialist focus, as we recognise the importance of individual market dynamics and not a one-size-fits-all approach.

Over 25 years of reporting on key chemicals markets, including Base oils-Lubes, has brought global recognition of our methodology as being unbiased, authoritative and rigorous in preserving our editorial integrity. Our global network of reporters in Houston, London, Singapore, Shanghai, Guangzhou, Mumbai, Perth and Moscow ensures unrivalled coverage of established and emerging markets.

Base Oils-Lubes Methodology

The main use for base oils is in the manufacture of lubricants, of which there are many thousands of types.

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Price reporting

Asia Base Oils/Lubes Pricing Report

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.

Our report includes all of the following:

  • Ex-tank Singapore prices for Base Oils Group I SN150
  • FOB Asia export prices for Base Oils Group I SN150
  • Ex-tank Singapore prices for Base Oils Group I SN150
  • FOB Asia export prices for Base Oils Group I SN150
  • Ex-Tank Singapore prices for Group I Brightstock
  • FOB Asia export prices for Group I Brightstock
  • 4cSt, 6cSt and 8cSt FOB Asia spot prices
  • 4cSt, 6cSt and 8cSt CFR Northeast Asia spot prices

The report also includes trade flows and demand from the finished lubricants sector. Shipping and feedstock information completes the market coverage.

Price history

ICIS collects pricing data on a wide range of chemical, energy and fertilizer products, including Base oils-Lubes. Our extensive experience in price reporting means we can offer you access to historical data dating back more than 20 years for certain commodities.

Our time series of pricing data enable you to build and model trends, to get a view of where markets might be heading. The data service includes charting functionality, allowing you to chart and download multiple data series for manipulation in your own internal models. You can also export data to Excel via the ICIS dashboard service.

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