Argentina’s base oils supply fell to a fifteen-month low in January as imports almost ground to a halt.The drop in supply contrasted with signs of steadier lubricants output, leaving blenders with tightening stocks of the lubricants feedstock.The dynamic raised the prospect of a stronger pick-up in requirements for replenishment supplies in the coming months.The US would be the key source of replenishment supplies from overseas markets.Any such moves for additional supplies would coincide with plant maintenance work and a seasonal rise in demand in the US from the end of the first quarter of the year.Argentina’s base oils output of 7,600 cubic meters (6,700 tonnes) in January fell from13,900 cubic meters in December, government data showed.The volume was also down from typical levels of closer to 10,000 cubic meters/month in 2024.The lower-than-usual output in January contrasted with a strong rise in production in 2024 that more than balanced out a slump in the country’s base oils imports.The drop in production in January instead magnified the impact of the ongoing slide in base oils imports at the start of this year.Total shipments of 500 cubic meters in January fell from 8,800 cubic meters in December to an eight-month low.Imports fell because of a slump in shipments from the US.The drop in supplies from the US followed a slowdown in the country’s base oils exports in December.A surge in US shipments to Mexico in December magnified the size of the drop in its exports to other markets like Argentina.An extension of that trend in other markets in South America raised the prospect of a similar drop in base oils supply throughout the region at the start of the year.For Argentina, the drop in its imports triggered a fall in the country’s total supply to little more than 8,000 cubic meters in January. The volume was the lowest since October 2023..Brazil’s Jan lube demand extends rise.US Dec base oil exports to S America fall.Argentina’s Dec base oils supply rises
Argentina’s base oils supply fell to a fifteen-month low in January as imports almost ground to a halt.The drop in supply contrasted with signs of steadier lubricants output, leaving blenders with tightening stocks of the lubricants feedstock.The dynamic raised the prospect of a stronger pick-up in requirements for replenishment supplies in the coming months.The US would be the key source of replenishment supplies from overseas markets.Any such moves for additional supplies would coincide with plant maintenance work and a seasonal rise in demand in the US from the end of the first quarter of the year.Argentina’s base oils output of 7,600 cubic meters (6,700 tonnes) in January fell from13,900 cubic meters in December, government data showed.The volume was also down from typical levels of closer to 10,000 cubic meters/month in 2024.The lower-than-usual output in January contrasted with a strong rise in production in 2024 that more than balanced out a slump in the country’s base oils imports.The drop in production in January instead magnified the impact of the ongoing slide in base oils imports at the start of this year.Total shipments of 500 cubic meters in January fell from 8,800 cubic meters in December to an eight-month low.Imports fell because of a slump in shipments from the US.The drop in supplies from the US followed a slowdown in the country’s base oils exports in December.A surge in US shipments to Mexico in December magnified the size of the drop in its exports to other markets like Argentina.An extension of that trend in other markets in South America raised the prospect of a similar drop in base oils supply throughout the region at the start of the year.For Argentina, the drop in its imports triggered a fall in the country’s total supply to little more than 8,000 cubic meters in January. The volume was the lowest since October 2023..Brazil’s Jan lube demand extends rise.US Dec base oil exports to S America fall.Argentina’s Dec base oils supply rises
