Weekly Lubricant & Chemical Report: Uncertain Market Trend

Over the past week, the price of oil went downhill so that on Monday, September 26, the market started with a negative rate, and it seems that the oil price trend will continue.

During the two days of Monday and Tuesday, the price of fuel in the Persian Gulf and Singapore also showed a negative trend, along with these developments, it seems that all petroleum products were affected by the drop in oil prices and the market faced a shock.

Besides this, the situation of the war in Russia is also uncertain and the spread of economic crises is probably increasing.

During the last week, it seems that unknown events have happened in the Central Committee of the Communist Party of China, and not much news has been published yet, but considering that China is the largest consumer of raw materials in the world and the largest producer in the world, the market is definitely China’s political news shows a serious reaction.

During the past week, internet access in Iran has also been limited and many commercial activities have been stopped, and it is not yet clear when the situation will return to normal.

Despite the end of the monsoon and previous forecasts regarding better conditions for exports, it seems that the drop in oil prices has caused a serious decrease in exports.

In the current situation, caustic soda has been sold in Iran for almost two months and its price is around 660 to 680 dollars.

The price of Iran’s paraffin wax is around 1100-1200 dollars and the price of recycled base oil of Iran, which had decreased to around 800 dollars during the last week, has again reached around 850-860 dollars FOB Bandar Abbas.

In the current situation; due to the spread of political crises in the Middle East and the war between Russia and Ukraine and the drop in oil prices, it is definitely not possible to give a specific prediction of the future to customers, and it is still recommended to consider all aspects of the market when buying any product.

China Caustic Soda Market Condition

Last week, the price of caustic soda in China continued to rise. Yesterday, the market price of caustic soda in Shandong’s main production areas remained stable, but in Jiangsu the prices continued to rise. It is expected that the market price today may continue to rise.

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