Weekly Lubricant & Chemical Report: Stable Condition in the Market

On Monday, after receiving weak signals regarding the upward trend of crude oil prices, the market became a little more optimistic about the future, and the price of Brent crude oil reached about $98 at the time of preparing this report.

During the past week, after the celebration of Ukraine’s independence day and Russia’s threat of more severe attacks on Ukraine, also due to the announcement of a serious warning by the United States to Americans living in Ukraine to evacuate there faster; it seemed that the situation of the war has reached a more critical point and Russia may consider more aggressive attacks against Ukraine in the near future.

It is not yet clear what the effect of this war will be on the market due to the escalation of Russian threats and attacks.

On Monday, Singapore’s HSFO CST 180 and HSFO CST 380 were traded with less than 5 dollars decrease in the Singapore markets, and these conditions caused the prices to remain stable.

With the beginning of September and the beginning of the high season of petroleum products, it seems that the conditions for lubricants should be better after a few weeks of stagnation.

In this situation, the FOB price of recycled base oil in Iran is around 840-860 dollars, paraffin wax is around 1250-1300 dollars, and caustic soda price is 610-620 dollars. In general, the market condition is calm.

China Caustic Soda Market Condition

The caustic soda market in China is running steadily.

The pre-maintenance equipment of the caustic soda factory in Hebei has been restored and the supply has increased.

The price has been adjusted, but altogether the market as a whole is weak.

This article was prepared by Mozhdeh Darbandizadeh, the account manager of Infinity Galaxy (www.infinitygalaxy.org).