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Lubricant base oil imports increased
announcer:admin Release date:2016-09-24

Looking back at the import of lubricant base oil from 2012 to the first half of 2016, the import data in the first half of 2016 was the highest, reaching a maximum of 1.5531 million tons in the past five years. Zhongyu Information analyst Wang Hanrui said that due to the overhaul of Formosa Plastics in June, the annual back-end plastic spot resources began to decrease, and imports from other countries such as Malaysia and the United States increased. In addition, the demand for high-viscosity oil will increase after the year, while domestic refineries produce few high-viscosity oil refineries, which cannot meet the needs of downstream lubricant blending plants and must rely on imported resources to supplement. In the first half of 2014, the growth rate was the highest, which was 35.36% higher than that in 2013. The main reason was that the refinery had fewer inspections, which led to an increase in the total volume of exports to China.

In 2012, the export volume was the highest at 62,200 tons. After 2013, the export volume gradually decreased, mainly due to poor market performance. Therefore, the supply of the main refinery was reduced, resulting in less export. As economic growth pressures remain high, exports will continue to remain low.

Wang Hanrui said that the lowest import volume in the first half of 2014~2016 appeared in February 2015. Since February was in the traditional Chinese New Year holiday, coupled with the lubricant manufacturers in stock in advance in January, and the production load of the company decreased, This made the lowest import volume in February. The highest import volume occurred in March 2014. Since the Spring Festival, merchants have entered the market, and March is the traditional peak season, which has doubled the market imports.

In the first half of 2014~2016, the export volume was relatively low. Except for a few months, the export volume was basically maintained below 2 million tons. However, as of January 1, 2016, if the enterprise exports lubricating oil, grease and lubricating base oil by general trade, the provincial local commercial authority shall issue an export license with the export contract; the original general trade exporting country trade management , monopolized by three companies. This news is conducive to China's supply of surplus base oil market, but in the first half of the year, exports are not ideal. As Zhongzitou and local refineries have plans to develop Class III high-quality base oils, more and more base oils will be used for export.

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