The ARGUS USGC Group III domestic price assessments
Argus was the first PRA to launch domestic Group III price assessments as stricter lubricant specifications boosted demand for the premium-grade base oil and the need for a price to benchmark the product off. Demand for Group III base oils in the US has risen steadily over the years. However, the US has no significant domestic Group III production, so relies on Group III base oil imports from producers around the world.
Advantages of the ARGUS USGC Group III domestic price assessments
The Argus USGC Group III price assessments, in line with Argus’ methodology, are more dynamic and reflective of market fundamentals in the US.
Users of the ARGUS USGC Group III domestic price assessments
The prices are used by importers, distributors and blenders looking to purchase Group III base oils in the US. Some market participants prefer using Argus USGC domestic spot price assessments, instead of posted prices, in their contracts in the US market.