Three majors in East China took concentrated turnarounds, pulling domestic base oil operating rates down to 68.5% and pushing import reliance up for now. The result is blunt: imported HVI 150 spot in East China at ¥8,240/t, a ¥365/t premium over domestic—widest in three months. That spread didn’t blow out in a day; it’s turnarounds stacked on firm demand. Downstream, natural and butadiene rubber both firmed, a signal that lubricant additive demand is recovering at the margin—but recovery isn’t a reason to chase. Our call: the import premium holds through the maintenance window, so customers wanting to lock forward prices should move now rather than wait; domestic supply stays tight, don’t expect a quick refill. The spread only compresses once the two North China hydrotreaters finish September turnarounds. Watch pricing timing—don’t wait for a shortage to panic.