A refractory formulation containing an anhydrous solvent, an oleophilic rheology modifier and a refractory aggregate exhibits non-thermoplastic behavior, and remains plastic and formable at temperatures in the range of 10 degrees Celsius to 180 degrees Celsius. The oleophilic rheology modifier may effectively bind with the solvent to create a gel-like structure with organic solvents with moderate to high polarity. A phyllosilicate clay that has been treated with a quaternary fatty acid amine may be used as the oleophilic rheology modifier.