ICIS provides unrivalled market intelligence for the evolving base oils market.
Updated to Q4 2020
Group I supply is expected to stay largely flat as supply from Japan will likely remain limited, while southeast Asian refiners will also likely continue running their units at reduced rates. Refiners are unlikely to ramp up their refinery operating rates due to poor production margins and tepid demand for other fuel products.
Overall demand in Asia including China is expected to pick up in October amid the traditional peak demand season following a lacklustre Q3. Demand in India is also likely to improve in October with the monsoon season having ended around mid-September.
Supply is expected to increase with the restart of South Korean S-Oil’s Group I and II units in end-September, although spot cargoes will likely be available only from November. Taiwan’s FPCC is expected to start offering cargoes to regions outside of China from October, following its restart in August.
Overall demand in northeast and southeast Asia is expected to pick up following a lacklustre Q3. China’s demand may stay relatively stagnant following its strong recovery in Q2. India demand will likely improve further with the end of the monsoon season.
Supply in Q4 is expected to remain largely stable, with no known major Group III refinery turnarounds in Asia and the Middle East during this period. South Korean supply will likely stay ample, while Middle Eastern supply will likely remain curbed.
Overall demand in northeast and southeast Asia is expected to improve as lockdowns in these regions have begun to ease. However, demand in India is unlikely to pick up significantly due to the worsening outbreak in the country.
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.
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.
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.
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.
Our report includes all of the following:
The report also includes trade flows and demand from the finished lubricants sector. Shipping and feedstock information completes the market coverage.
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.