Towards the end of the second quarter of xxxx, the Gear Oil prices-maintained stability in the Asian market and remained the same as observed in May xxxx. The Gear Oil inventories are steadily dwindling as end-user industries increase their consumption, leading to stagnant prices in the domestic market.
Previously, Gear Oil prices have risen by xx due to increased upstream base oil costs and higher demand globally amid the tighter availability of specific Gear Oil grades in the Asian region. There were indications that some sectors began to slow down, stemming from a growing awareness among consumers about extended supply conditions, which exerted downward pressure on prices. Gear Oil costs remained unchanged, and EP Gear Lube Oil FOB Jurong in Singapore witnessed USD xxxx/MT at the end of June xxxx, according to the ChemAnalyst data sources.
At the same time, the previous shortage of Gear Oil...
