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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 Q2 2021

Group I

Tight supply is unlikely to abate in Q2 due to ongoing turnarounds at ENEOS Corp’s Negishi unit as well as Idemitsu Kosan’s Chiba unit. A couple of Thai refiners are also expected to continue to run their units at reduced rates due to poor production margins amid sluggish demand for other types of fuels.

Stronger demand is expected in northeast and southeast Asia, amid economic recoveries with the gradual roll-out of the coronavirus vaccine in these regions. However, demand in India will likely be curtailed amid the resurgence of new coronavirus cases in the country.

Group II

Supply from northeast Asia is expected to gradually recover towards the later part of Q2, with South Korea’s GS Caltex set to restart its Group II unit in early May. Other South Korean refiners will also likely begin to have more spot availability as supply-demand dynamics become more balanced.

Demand in China and southeast Asia will likely stay largely stagnant as buyers become more and more lethargic to sellers’ incessant price hikes. Demand in India is expected to wane amid the resurgence of new coronavirus cases in the country.

Group III

Supply in Q2 is expected to increase as South Korean SK Lubricants is set to restart its 1.7 million tonne/year Group III unit in April from a turnaround. However, shipments from the Middle East to Asia including India will likely remain limited as more volumes may be heading for Europe and the US instead.

Overall demand in Asia is expected to improve, with the key downstream automotive sector likely to benefit from the gradual roll-out of coronavirus vaccines as life slowly returns to normal. However, the automotive industry in India may not see as rapid a recovery as initially expected because of the recent surge in new coronavirus cases.

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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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