Class II base oil: continuous positive news and rising trend
author: Ann
2025-02-07
The post-holiday base oil market is generally positive, but compared with the sales prices of the two major domestic refineries, the import oil has a more obvious rise. The second-class oil imported from Taiwan Formosa Plastics and South Korea Ssangyong has changed the previous stable situation and has risen sharply.
At present, in East China, the price of imported Taiwan Formosa Plastics' second-class base oil 150N has reached about 8450-8550 yuan/ton, and the lowest is also in the range of 8200-8350 yuan/ton. The price of 500N is 9250 yuan/ton, and the third-class resources are even scarcer. Compared with the pre-holiday price, there is an increase of 200-300 yuan/ton. The reason is that the improvement of seasonal demand has led to a tightening of resources, which is only a small part. Formosa Plastics' second-class oil was officially launched in the mainland market at the end of November last year. As Taiwanese companies were involved in the market for the first time, they had previously set a low price and entered the market at a low price to attract customers of similar products. As a result, the market response was generally good, and many regions even saw a rush to buy. Formosa Plastics quickly changed its sales strategy, claiming that the refinery was undergoing maintenance in January this year, raising the price by claiming that resources were scarce. Therefore, the industry expects that the price will rise by about 30-40 US dollars/ton in the future.
The price of imported base oil from South Korea's Ssangyong has also been rising recently. As far as the East China region is concerned, the current import price of South Korea's Ssangyong Class II 150N is reported at 8550-8600 yuan/ton, 220N is reported at 8750-8850 yuan/ton, and 600N is reported at 9550 yuan/ton. It has also increased by about 200 yuan/ton compared with before the holiday. Traders said that the arrival of South Korea is still decreasing. Because there was overseas news earlier that South Korea's SK Energy plans to shut down its three reforming units in Ulsan in early May this year for regular maintenance work, which is expected to last for three months. These include the No. 1 cracking unit with a daily capacity of 60,000 barrels, the No. 2 CDU unit with a daily capacity of 170,000 barrels, and the No. 3 RFCC unit with a daily capacity of 70,000 barrels. It can be seen that the output of base oil raw materials will be significantly affected at that time. Although there is still some time before the maintenance period, and the manufacturer will inevitably maintain a certain inventory, the market has already appeared in advance, and the sellers have also raised prices to heat up the market.
The upward trend of imported Class II oil is expected to be difficult to change in the later period. While there is already a contradiction between supply and demand, it is easier for the market to take advantage of the opportunity to speculate. Therefore, mastering a stable purchase channel is still the focus of most current industry players.
The price of imported base oil from South Korea's Ssangyong has also been rising recently. As far as the East China region is concerned, the current import price of South Korea's Ssangyong Class II 150N is reported at 8550-8600 yuan/ton, 220N is reported at 8750-8850 yuan/ton, and 600N is reported at 9550 yuan/ton. It has also increased by about 200 yuan/ton compared with before the holiday. Traders said that the arrival of South Korea is still decreasing. Because there was overseas news earlier that South Korea's SK Energy plans to shut down its three reforming units in Ulsan in early May this year for regular maintenance work, which is expected to last for three months. These include the No. 1 cracking unit with a daily capacity of 60,000 barrels, the No. 2 CDU unit with a daily capacity of 170,000 barrels, and the No. 3 RFCC unit with a daily capacity of 70,000 barrels. It can be seen that the output of base oil raw materials will be significantly affected at that time. Although there is still some time before the maintenance period, and the manufacturer will inevitably maintain a certain inventory, the market has already appeared in advance, and the sellers have also raised prices to heat up the market.
The upward trend of imported Class II oil is expected to be difficult to change in the later period. While there is already a contradiction between supply and demand, it is easier for the market to take advantage of the opportunity to speculate. Therefore, mastering a stable purchase channel is still the focus of most current industry players.
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