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Updated to Q4 2019
Supply of lighter grade SN150 from Asia is expected to stay relatively short while that of SN500 and brightstock is likely to be quite constant, with the expected restart of JX Nippon’s Mizushima A unit in mid-November to be offset by turnarounds at some southeast Asian refineries.
Demand in both northeast and southeast Asia is expected to stay largely stagnant in Q4. Buyers will likely purchase on a need-to basis amid volatile upstream crude and gasoil prices, although suppliers were hopeful for Indian demand to at least pick up slightly with the end of the monsoon in late-September.
Supply in Q4 will likely stay constant as regional refiners are expected to keep their refinery operating rates at reduced levels due to squeezed margins. Group II refiners are unlikely to recover their production substantially as overall supply remained relatively ample despite the output cuts in the previous quarter.
Overall demand in Asia will likely be constant in Q4, with lesser demand in northeast and southeast Asia during the year-end lull to be offset by an expected pick up in demand in India after the monsoon season in late-September as well as the onset of the festive period in late-October.
Supply in Q4 is expected to decrease because of a planned turnaround at Malaysia Petronas’s Group III unit from H2 October to around mid-December this year. South Korean Group III refiners will likely keep their output steady, with no known planned turnarounds for the rest of the year.
Demand for northeast and southeast Asian 4cst, 6cst and 8cst cargoes is expected to stay largely flat in Q4. Suppressed downstream demand from the key lubricants sector fueled by geo-political tensions, economic uncertainties as well as volatile crude oil prices will likely curb demand from picking 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.
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.
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.
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