ILMA Compoundings - March 2020 - 17

Group II Base Oil Price History
Date

U.S. Base Oil Exports to Belgium, in Metric Tons
Jan.
Feb.
March
April
May
June

2018
51,429
59,202
30,864
68,571
52,495
83,405

2019
93,898
50,254
57,776
67,537
90,169
55,455

Source: ICIS Supply and Demand Database

Belgium, which accounts for the second-highest U.S.
export volumes behind Mexico at 13%, had already imported
that amount by April in 2019, according to ICIS data.
If similar volume patterns apply this year, imports from
April through June would be subject to the duty before the
threshold resets in July.
IMO 2020 EFFECT
New International Maritime Organization (IMO) regulations went into effect in January, capping sulfur content in
fuel oil at 0.5%.
The new requirements could be disruptive to distillate,
VGO and fuel oil markets early in the year.
Among the effects are variability in the value of VGO
for other uses and the price of co-products distillates and
extracts from base oil plants, according to Michael Connolly,
ICIS senior analyst.
"Generally, expectations are for Group I plants to experience
more challenges from the change than Groups II and III,"
Connolly said. "As with most refining changes, the more
complex refineries will tend to benefit and the least complex
suffer, but with IMO, the local site and market specifics will
result in a highly variable effect from plant to plant."
As the year progresses, the markets should stabilize, resulting in a clearer picture of who has fared best through this
highly uncertain period.
The continued drive toward higher specs in automotive
lubricant grades and the ongoing rise of electric vehicles
will continue to underpin long-term change in the base oil
market, albeit at a slower pace than IMO effects in 2020,
Connolly said.
Hay is senior editor manager at ICIS. She may be
reached at amanda.hay@icis.com.

Jan. 8, 2019
Jan. 15, 2019
Jan. 22, 2019
Jan. 29, 2019
Feb. 5, 2019
Feb. 12, 2019
Feb. 19, 2019
Feb. 26, 2019
March 5, 2019
March 12, 2019
March 19, 2019
March 26, 2019
April 2, 2019
April 9, 2019
April 16, 2019
April 23, 2019
April 30, 2019
May 7, 2019
May 14, 2019
May 21, 2019
May 28, 2019
June 4, 2019
June 11, 2019
June 18, 2019
June 25, 2019
July 2, 2019
July 9, 2019
July 16, 2019
July 23, 2019
July 30, 2019
Aug. 6, 2019
Aug. 13, 2019
Aug. 20, 2019
Aug. 27, 2019
Sept. 3, 2019
Sept. 10, 2019
Sept. 17, 2019
Sept. 24, 2019
Oct. 1, 2019
Oct. 8, 2019
Oct. 15, 2019
Oct. 22, 2019
Oct. 29, 2019
Nov. 5, 2019
Nov. 12, 2019
Nov. 19, 2019
Nov. 26, 2019
Dec. 3, 2019
Dec. 10, 2019
Dec. 17, 2019
Dec. 24, 2019

Base Oils Paraffinic
Group II N100/120
FOB USG Assessment Export Spot 2-6
Weeks Full Market
Range Weekly (Mid):
USD/US gal
2.065
2.030
2.030
2.030
2.030
1.980
1.980
1.980
1.980
1.980
1.980
1.980
1.980
1.990
2.030
2.030
2.030
2.120
2.120
2.120
2.120
2.120
2.170
2.170
2.170
2.170
2.170
2.170
2.170
2.170
2.170
2.170
2.170
2.150
2.150
2.150
2.150
2.150
2.150
2.135
2.135
2.095
2.095
2.025
2.010
2.010
1.985
1.985
1.985
1.985
1.985

Base Oils Paraffinic
Group II N200/220
FOB USG Assessment Export Spot 2-6
Weeks Full Market
Range Weekly (Mid):
USD/US gal
2.095
2.060
2.060
2.060
2.060
2.010
2.010
2.010
2.010
2.010
2.010
2.010
2.010
2.020
2.060
2.060
2.060
2.130
2.130
2.130
2.130
2.130
2.180
2.180
2.180
2.180
2.180
2.180
2.180
2.180
2.180
2.180
2.180
2.160
2.160
2.160
2.160
2.160
2.160
2.145
2.145
2.105
2.105
2.035
2.020
2.020
1.995
1.995
1.995
1.995
1.995

Base Oils Paraffinic
Group II N600 FOB
USG Assessment
Export Spot 2-6
Weeks Full Market
Range Weekly (Mid):
USD/US gal
2.260
2.260
2.260
2.180
2.180
2.130
2.130
2.130
2.130
2.130
2.130
2.130
2.130
2.130
2.170
2.170
2.170
2.235
2.235
2.235
2.235
2.235
2.260
2.260
2.280
2.280
2.280
2.280
2.280
2.280
2.280
2.280
2.280
2.240
2.240
2.240
2.240
2.240
2.240
2.225
2.225
2.185
2.185
2.115
2.100
2.100
2.075
2.075
2.075
2.075
2.075

Copyright © 2020 Reed Business Information Limited.
ICIS is a member of the RELX group.
ICIS accepts no liability for commercial decisions based on the content of this report.
UNAUTHORISED REPRODUCTION / TRANSMISSION PROHIBITED.
Exchange rates supplied by Bloomberg and XE.com (http://www.XE.com).
Prices that have been converted from the originally quoted unit or currency are shown to two decimal places.
When exporting multiple quote series, empty cells may appear in the quote table as publishing dates may not align or
may vary over holiday periods.
For prices downloaded in any frequency other than the original frequency, ICIS has made some assumptions in averaging
(see methodology for frequency).
To view prices as assessed by ICIS, please download series in their original published frequency.

17


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ILMA Compoundings - March 2020

Table of Contents for the Digital Edition of ILMA Compoundings - March 2020

ILMA Compoundings - March 2020 - Cover1
ILMA Compoundings - March 2020 - Cover2
ILMA Compoundings - March 2020 - 1
ILMA Compoundings - March 2020 - 2
ILMA Compoundings - March 2020 - 3
ILMA Compoundings - March 2020 - 4
ILMA Compoundings - March 2020 - 5
ILMA Compoundings - March 2020 - 6
ILMA Compoundings - March 2020 - 7
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ILMA Compoundings - March 2020 - 16
ILMA Compoundings - March 2020 - 17
ILMA Compoundings - March 2020 - 18
ILMA Compoundings - March 2020 - 19
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