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Semi annual review: price fluctuation of base oil and weak demand compared with previous years

wallpapers News 2020-11-23

according to jinyindao calculation, the price index of 150SN base oil on July 10 was 8492, up 142 points compared with the product index at the beginning of the year (January 4); the product index of 400SN of base oil on July 10 was 8592, which was 146 points higher than that of the last price adjustment (January 4).

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this year, domestic foreign economies are facing severe tests. Although at the beginning of the year, the domestic economy formulated a policy with the main tone of "maintaining stability promoting growth", but it was affected by various uncertain factors. In the first half of the year, the operation of all walks of life was relatively general, the market situation of base oil could not escape the dull trend.

base oil market showed a steady upward trend in January. Driven by the stock preparation mood before the festival, the market volume increased slightly, the price increased slightly by about 100 yuan / ton. After the end of the new year's Day holiday, market prices began to fluctuate, refineries generally raised prices, market trading began to be active. In the middle of the month, the overall market price was stable, the refinery shipment situation was general, the downstream wait--see continued. At the end of the month, near the Spring Festival holiday, some refineries shut down for maintenance, the stock preparation of downstream blending plants has ended, the market is mainly light stable.

base oil market showed a stable trend in February, the price fluctuation of main refineries was small, most of them were stable. Affected by the atmosphere of the Spring Festival, some companies have a small amount of stock, but the overall market volume is not optimistic. During the Spring Festival, most refineries shut down for holidays, traders withdrew from the market, downstream blending plants stopped production, the base oil market was light. At the end of the long holiday, upstream downstream returned to the market one after another, downstream blending plants began to resume production, traders began to purchase moderately, but the overall market dem did not rise significantly. The overall base oil market of

in March still showed a weak stable trend. The listed price of base oil of main refineries was generally stable, but the market purchasing sentiment was low, the market transaction price declined. Due to the shutdown of most of CNPC's refineries for maintenance, the market supply has been greatly affected. The total supply of class I base oil in the market was significantly reduced, the market price was supported to some extent. In the middle of the month, the market dem continued to be depressed, the market trading was light, the price was down. At the end of the month, affected by the decline of refined oil prices, the bearish sentiment in the base oil market became stronger, the base oil market price gradually declined.

base oil market in April, generally speaking, is in a stable downward trend. In the Northeast market, affected by the centralized maintenance of refineries, the main refineries of PetroChina have less shipment extremely limited external sales. The market is short of spot resources, traders take advantage of the opportunity too high price, but the transaction is not good. The shortage of resources in the Northeast market has given a certain boost to the price of base oil. The two sets of units of Dalian Petrochemical Co., Ltd. were shut down for maintenance, there was little volume of external volume. Daqing Petrochemical plant was overhauled, the refinery suspended its volume, so there was almost no spot resources in the market. Fushun Petrochemical planned to overhaul in May, the refinery almost had no export. In the shutdown maintenance of Jinan refinery, the quantity of export is limited the price fluctuation is less.

in May, the domestic base oil market showed a steady downward trend. The refinery shipment situation was poor, the market wait--see sentiment was strong, the downstream purchasing sentiment was low, the terminal was mainly rigid dem, there was little stock preparation. Most of the main refineries are limited in shipment, the listed prices of refineries are mostly stable. The

lubricating oil terminal dem remained sluggish until June. The domestic economy continued to be depressed, the terminal dem of lubricating oil was greatly affected. In addition, with the gradual arrival of the blending off-season, the lube base oil market will enter the downturn again. In June, the domestic class I base oil market may be boosted by tight market supply, the price will be supported to some extent. However, the supply of class II base oil is sufficient, the price may have room for decline. The European crisis of

continues, the world economy recovers slowly, China's economy continues to be sluggish, China's heavy industry automobile industry have suffered a lot. From the historical data, we can see that the growth rate of China's automobile sales volume shows a downward trend, so the growth rate of the overall dem for lubricating oil also shows a downward trend. Since 2013, the overall dem for lubricating oil has always been in the downward channel, resulting in the light trading in the base oil market the continuous decline in prices. Comprehensive analysis shows that the economic crisis in the second half of the year is still the main factor affecting the base oil market, the lubricating oil blending off-season will also have a negative effect on the whole market. Therefore, the base oil market in the second half of the year will still be in a stable downward trend. However, according to the data of the National Bureau of statistics, China's total freight transport in 2012 was 41.2 billion tons, an increase of 11.5% over the previous year. The turnover volume of freight transportation was 173145 billion ton kilometers, an increase of 8.7%. The total cargo throughput of the whole year was more than 4.86 billion tons, an increase of 97.7 percent over the previous year. The total passenger traffic volume in the whole year was 37.9 billion, an increase of 7.6% over the previous year. Among the 120.89 million civilian cars in China, the number of private cars was 93.09 million, an increase of 18.3%. There were 59.89 million civilian cars, an increase of 20.7%, including 53.08 million private cars, an increase of 22.8%. The increasing data of automobile ownership in China supports the rigid dem of lubricating oil market to a certain extent. In the long run, there is still room for improvement in the future market development of base oil lubricants.


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TRUNNANO (aka. Luoyang Tongrun Nano Technology Co. Ltd.) is a trusted global chemical material supplier & manufacturer with over 12 years' experience in providing super high-quality chemicals and Nanomaterials. The nitride powder produced by our company has high purity, fine particle size and impurity content. Please contact us if necessary.
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