Base Oil Report
The European base oils export market continues to aim for premiums for SN150 and SN500 going into the second quarter, with availability tight. Although prices have been steady in recent weeks, players are testing the markets with premiums above these levels in order to gauge levels of buying interest. Supply for these problems remain limited because of recent bouts of maintenance at refineries across parts of Europe.
Elsewhere, other players were sold out of product for February and March meaning that spot market supply could remain constrained until April. Brightstock supply had been lengthy at the start of the year, with prices steadily decreasing as a result. However, market players on the European export market now believe brightstock values have bottomed out, with market length being absorbed by demand from China.
Prices for SN150 and SN500 on the European domestic market had increased during January and February but there were contrasting market views on price trajectory going into March and the second quarter. Some sources believed prices would remain steady, if not soften slightly due to a shrinking demand from the lubricants sector and the potential to use re-refined base oils as an alternative to Group I product. However, other market players continue to note ongoing tight conditions on SN150 and SN500 in the market and expect refiners to increase their offers as a result.
Elsewhere in the Group II market, availability in the domestic European market is tight, with volumes from the US potentially limited. Group III market traders are expecting increases during March but there is little confirmation of this on the buy-side as yet.
There is conflicting information about how great an impact production issues at Shell’s Pearl gas to liquids (GTL) plant at the Ras Laffan Industrial City in Qatar will have on the market. The company recently clarified that base oils production has temporarily ceased at the plant, after a controlled shutdown of the plant which was confirmed earlier this month. There was suggestion that the knock-on effect on other Group III volumes could be significant, but this could not be widely verified.
Overall, there are diverging views on European base oil market conditions, but it is clear that some grades will begin the second quarter from tight starting points.
Sarah Trinder Senior Editor, Manager ICIS
LINK
www.icis.com
Fuchs is recognised as one of the World’s leading suppliers of high value specialist lubricants to a diverse customer base including process manufacturing industries, aerospace, automotive, food, paper, energy & steel, pharmaceutical, wire rope, mining, commercial aftermarket, motorcycle and power sports.
We have an exciting opportunity for a Purchasing Manager based at our site in Stoke-on-Trent. Purchasing Manager
MAIN RESPONSIBILITIES • Head the purchasing and procurement process • Manage base oil pricing, quotas and forecasting • Collaborate with inventory and production management to ensure accurate forecasting and planning
• Build strong relationships with sales management, R&D and manufacturing
• Develop and qualify new supply sources for strategic raw materials and deliver cost savings
• Identify and implement process improvements • Initiate and lead procurement projects • Manage key supplier relationships to ensure optimum costs and reliable supply.
WHAT WE EXPECT • Degree Educated
(Chemistry or Engineering preferred)
• Strong analytical and interpersonal skills
• CIPS qualified or 5 years strategic procurement experience within the manufacturing or chemical industry
• Proven ability in cost reduction projects • Excellent leadership and staff management experience
• Excellent communications skills both verbal and written
• Good IT and analytical skills
Interested applications should forward career history and salary package to Susanne McClurg, UK Personnel Manager
susanne.mcclurg@
fuchs-oil.com Tel +44 (0) 1782 203773
“This is where I live “out my passion - “experience more!”
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