Victoria Foko’s Post

🌏 Asia’s Base Oils Market: Resilient Amidst Global Uncertainty 🌏 Check out this infographic for a quick visual snapshot of demand drivers and regional trends:

Asia’s base oils market is showing resilience amidst global uncertainty. Check out this infographic for a quick visual snapshot of demand drivers and regional trends. In H2 2024, the market is set for moderate shifts as Group II supply increases and Group III availability expands. China’s demand is expected to recover, with imports likely to decline. For a more comprehensive analysis of these trends and how the market may evolve, read our full Asia Base Oils Midyear Outlook. Read now: http://spkl.io/6048fMCe4 #BaseOil #ChemicalIndustry #Petrochemicals

Global base oils exports to the Middle East surged in July, reaching a three-month high of over 43,000 tonnes, largely driven by shipments from Europe and Asia. This replenishment of stocks has slowed buying urgency, with many waiting for more competitive prices, especially as crude prices decline. Despite this rise, exports remain lower than the first quarter's surge, reflecting tightening supplies. With weak Group II heavy-grade prices and the potential for surplus buildup amid seasonal slowdowns, the market continues to show signs of shifting supply-demand fundamentals. #BaseOils #ICIS #MiddleEast https://lnkd.in/dAPunHPm

It is expected that bromine will continue to consolidate in the later period, depending on downstream market demand. #SunSirs #China #CommodityData #Index #BulkInformation #SpotPrices #Futures #MarketTransaction #Bromine

Asia base oils demand outlook: Week of 13 Jan ICIS subscribers - click: https://lnkd.in/eVu3d4xf Baseoilnews subscribers - click: https://lnkd.in/eyFKeJ9B #oil #baseoilnews #baseoils #lubricants #autosales #economicgrowth #inflation #refinery #dieselprices #gasoline #crudeoilprices #usa #americas #brazil #argentina #europe #italy #covid #france #germany #asiapacific #china #india #autosales #currency #inflation #interestrates #gdp #pmi #centralbanks #sanctions #icis #consumerconfidence #lubrificantes #globalmarket #lubricantes #aceitedemotor #hurricaneseason #monsoonseason #fundamentals #outlook

The Soda Ash market in China has recently seen a significant increase in capacity, record high demand growth, and a sharp drop in net exports, but at the same time producers and end-user inventories are estimated to be increasing while soda ash prices are falling fast. In contrast, India, with the same population size, shows markedly different industry characteristics. Has demand growth of soda ash peaked in China? When will India experience a surge in demand? Read the full insight: https://bit.ly/4d81DUV #SodaAsh

Europe Group I base oils supply targets SE Asia, bypassing Middle East ·       Europe’s Group I base oils exports to southeast Asia rise strongly so far this year, despite closed arbitrage during most of that period. ·       Europe’s Group I base oils exports to Middle East fall amid even less feasible arbitrage to that region, ICIS data shows (slide 1). ·       Change in cargo flows from Europe to Asia and to Middle East coincides with sustained weakness of Middle East Group I SN 500 price relative to FOB Asia price. ·       Change in cargo flows could also point to differing objectives for each of those markets. ·       Unusually large cargo of Group I base oils loads from Italy in July 2024 before heading to Singapore; shipment arrives in Sept 2024. ·       Cargo adds to sustained pick-up in shipments from Europe to Singapore so far this year (slide 2). ·       Europe’s base oils exports to Middle East also rise strongly in July 2024 (slide 3). ·       Composition of those shipments changes markedly from recent years, with slump in supplies from Italy and UK and surge in supplies from Netherlands (slide 4). ·       Italy and UK are key producers of Group I base oils in Europe; Netherlands is the sole source of virgin Group II base oils in Europe. ·       Rise in Group I shipments from Europe to southeast Asia follows and helps to cushion impact of closure of two plants in Japan in recent years and upcoming closure of Group I plant in China in Oct 2024. ·       Rise in Group I shipments to southeast Asia coincides with and helps to cover for sustained pick-up in Singapore’s bunker fuel demand since late last year (slide 5). ·       Singapore’s rising bunker-fuel demand points to pick-up in marine lube consumption, and to subsequent pick-up in demand for Group I brightstock to produce marine lubricants. ·       Fall in Group I shipments from Europe to Middle East partly reflects dwindling availability of spot cargoes in Europe and uncompetitive prices for any spot supplies that are available. ·       Shrinking bunker fuel demand in Fujairah this year and its smaller size relative to Singapore also curbs the need to move additional Group I term shipments to the region. ·       The dynamic compounds tight availability of higher-quality Group I supplies in Middle East and incentivizes blenders to speed up switch to alternative grades. ·       Rise in shipments from Netherlands to Middle East this year could tap such moves. ·       Any such moves would help to build market share ahead of expected rise in Group II supply in India and southeast Asia in coming year. ·       Dynamic suggests Europe’s rise in Group I shipments to southeast Asia is focused more on covering existing market requirements. ·       Dynamic suggests rise in premium-grade shipments from Europe to Middle East is focused more on building market share of future requirements. #oil #baseoilnews #baseoils #lubricants #icis #arbitrage #europe #singapore #middleeast

Asia base oils demand outlook: Week of 18 Nov ICIS subscribers - click: https://lnkd.in/eC-KPAZv Baseoilnews subscribers - click: https://lnkd.in/eEwRxSVt #oil #baseoilnews #baseoils #lubricants #autosales #economicgrowth #inflation #refinery #dieselprices #gasoline #crudeoilprices #usa #americas #brazil #argentina #europe #italy #covid #france #germany #asiapacific #china #india #autosales #currency #inflation #interestrates #gdp #pmi #centralbanks #sanctions #icis #consumerconfidence #lubrificantes #globalmarket #lubricantes #aceitedemotor #hurricaneseason #monsoonseason #fundamentals #outlook

It is expected that the domestic market price will mainly fluctuate and weaken in the short term. #SunSirs #China #CommodityData #Index #BulkInformation #SpotPrices #Futures #MarketTransaction #SodiumMetabisulfite

It is expected to maintain consolidating in the future, depending on downstream market demand. #SunSirs #China #CommodityData #Index #BulkInformation #SpotPrices #Futures #MarketTransaction #CausticSoda