Lubricants
Weekly Lubricant & Chemical Report: Expectation of Positive Upward Trend for after Monsoon
On Monday, the price of Brent oil started at around $93 to $94. As mentioned by Infinity Galaxy in Monday 's report, the technical trend of the market shows the increase of oil prices, but it was reported in a very weak way, and by the time of preparing this report, the price of Brent...
On Monday, the price of Brent oil started at around $93 to $94. As mentioned by Infinity Galaxy in Monday 's report, the technical trend of the market shows the increase of oil prices, but it was reported in a very weak way, and by the time of preparing this report, the price of Brent oil reached about 98 dollars.
During the last 10 days, due to the increase in the parity of the rial against the dollar, the price of exported commodities from Iran increased by about 12%, although on Monday, the HSFO 180 CST FOB Singapore was about 484-485 USD and HSFO 380 CST FOB Singapore was 464-465 but in Iran, on the same day, the price of vacuum bottoms increased by 2.9% and the price of lubcat decrease less than 0.86%.
Considering that the results of the nuclear negotiations of Iran and US have not yet been determined and it is not known whether these negotiations will come to an end or not, there is still a serious fear of the fall of the dollar against the Rial in the market, and many exporters are still unable to announce prices.
As the first of September approaches and the end of the monsoon in many markets of East Asia and India is arriving, it is expected that the markets will face a positive upward movement.
In the current situation, the price of recycled base oil FOB Bandar Abbas is around $870 to $890, the price of paraffin wax is around $1,2500 to $1,350, and caustic soda price is around $610 to $630.
China Caustic Soda Market Condition
In the last 2 days, the market of caustic soda in China was mostly stable and it seems the supply and demand tend to balance. After the price increase of enterprises at the end of the last week, there is a strong wait-and-see atmosphere in the market and the downstream just needs to purchase. Generally, the market transaction is flat and it is expected to remain stable.
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