For clear insight into regional Base oils-Lubes markets, you need in-depth price reports direct from those regions.
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Updated to Q2 2021
Group I
European base oils Group I supply is expected to remain tight. There are several planned maintenances anticipated, which will further compound ongoing shortages. Domestic players are bracing for tightness during at least the first half of Q2. Most export players are already sold out for April, with very limited volumes available for May. The export market is not likely to see any reprieve from tightness until at least June.
Demand for base oils Group I material will likely remain very strong throughout Q2. Global shortages mean that export buying interest is expected to be firm until availability improves in various regions. Demand is expected to remain very healthy from West Africa, Turkey and India in particular. Domestic buying interest is anticipated to stay firm for most of Q2 amid several planned maintenances in the region.
Group II
Supply is expected to remain tight. There are several planned turnarounds, which will further compound ongoing shortages. Domestic players are bracing for tightness during at least the first half of Q2. Most export players are already sold out for April, with very limited volumes available for May. The export market is not likely to see any reprieve from tightness until at least June.
Demand will likely remain very strong throughout Q2. Global shortages mean that export buying interest is expected to be firm until availability improves in various regions. Demand is expected to remain very healthy from West Africa, Turkey and India in particular. Domestic buying interest is anticipated to stay firm for most of Q2 amid several planned turnarounds in the region.
Group III
Supply availability is likely to be even tighter in Q2 amid Neste’s Porvoo maintenance, which will last for the whole of the quarter. Shortages are set to persist across the market with limited imports expected amid planned maintenance at SK in Ulsan, South Korea, during April. Delays from the blockage at the Suez Canal are likely to persist through April, impacting imports from the Middle East, Asia and exports to the US.
Demand is set to remain strong during Q2. With Neste’s planned maintenance during the quarter in Europe and SK’s turnaround from March to April in South Korea, the lack of availability will continue to drive buying interest domestically. Players are already looking to book May and June spot volumes amid concerns there will be strong demand and limited material until at least the end of the quarter.
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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