Saturday, July 13, 2024
HomeNewsAsiaGlobal Epidemic Spreads, Competition for Base Oil Is Fierce, Sales of MoDTC...

Global Epidemic Spreads, Competition for Base Oil Is Fierce, Sales of MoDTC Will Also Decline

According to real-time statistics released by Johns Hopkins University in the United States, as of March 25, there were a total of 417,698 confirmed cases of coronavirus pneumonia worldwide, a total of 18,614 deaths, and 107,823 people cured.
Faced with such an awkward situation, all industries in the world are undergoing life and death tests. In the entire lubricant industry, competition in the base oil market has intensified.
In 2019, China's base oil imports totaled 2.66666 million tons. According to the distribution of production areas, South Korea, Singapore, and Taiwan provinces still ranked in the top three. Among them, 498,800 tons of base oil were imported from South Korea, accounting for 35.62% of the country's base oil imports; 648,800 tons of base oil were imported from Singapore, accounting for 24.33%, ranking second; and 432,800 tons of base oil were imported from Taiwan Province. They were accounted for 16.23%, ranking third.

It is understood that the public health incident will not affect the refinery's production, but it will change the demand-side procurement plan. Chinese companies' shutdowns and stagnation in the market will lead to a reduction in shipping schedules in February. Refinery inventory is high, market transactions are deserted, and crude oil has plummeted. Refineries have lowered prices, and the spot price of imported base oil has fallen. At present, the base oil market is generally stable and bearish. Shipments in February are mostly postponed to March. The factory has no plan to reduce production for the time being, as the market situation in China is not yet clear, buyers and sellers are mostly on the sidelines.
As the global epidemic spreads, competition for base oils is fierce. As a friction modifier for lubricating greases, MoDTC's sales will also decline with industrial shutdowns. Trunnano is stable in the production of MoDTC and can be stably supplied to the world. If you need more detailed information, you can always contact the technical engineer.

- Advertisment -

Most Popular

Recent Comments