South Korea’s base oils exports to the US fell to a four-month low in February, contrasting with a rise in shipments to Latin America.Shipments to the US slowed even as the northeast Asian country’s total base oils exports surged in February to a three-year high..S Korea’s Feb base oils exports rise.The disparity reflected weaker Group III supply-demand fundamentals in the US at the start of this year and firmer demand in other markets.A slower-than-usual seasonal pick-up in US blenders’ stock replenishment plans in recent weeks prolonged the weaker demand fundamentals through the month of March.A regular flow of large volumes from Mideast Gulf to the US over the past year and several US posted price-cuts this year added to the attraction of moving supplies to other markets instead.South Korea’s base oils exports of around 51,500t to the US in February fell from more than 67,000t the previous month, government data showed..The volume was the lowest since October and down from typical shipments of more than 61,000 t/month over the past year.The drop in exports to the US contrasted with a pick-up in shipments to Latin America, where demand remained firmer than other regions early this year.South Korea’s base oils exports to Latin America slowed in the final months of last year amid tightening supply in the Asia-Pacific region.A rebound in Asia-Pacific supply at the start of this year and still-competitive Group II heavy-grade prices revived the attraction of moving more supplies to Latin America.South Korea’s exports of more than 6,300t to the region in February rose from close to 5,000t the previous month to the highest since November.Exports to Latin America rose even amid signs of a steady recovery in base oils demand from China since the start of the year.The strength of China’s recovery has been insufficient to boost Asia-Pacific heavy-grade prices to levels that made the trans-Pacific arbitrage unattractive..China’s February base oils imports rise
South Korea’s base oils exports to the US fell to a four-month low in February, contrasting with a rise in shipments to Latin America.Shipments to the US slowed even as the northeast Asian country’s total base oils exports surged in February to a three-year high..S Korea’s Feb base oils exports rise.The disparity reflected weaker Group III supply-demand fundamentals in the US at the start of this year and firmer demand in other markets.A slower-than-usual seasonal pick-up in US blenders’ stock replenishment plans in recent weeks prolonged the weaker demand fundamentals through the month of March.A regular flow of large volumes from Mideast Gulf to the US over the past year and several US posted price-cuts this year added to the attraction of moving supplies to other markets instead.South Korea’s base oils exports of around 51,500t to the US in February fell from more than 67,000t the previous month, government data showed..The volume was the lowest since October and down from typical shipments of more than 61,000 t/month over the past year.The drop in exports to the US contrasted with a pick-up in shipments to Latin America, where demand remained firmer than other regions early this year.South Korea’s base oils exports to Latin America slowed in the final months of last year amid tightening supply in the Asia-Pacific region.A rebound in Asia-Pacific supply at the start of this year and still-competitive Group II heavy-grade prices revived the attraction of moving more supplies to Latin America.South Korea’s exports of more than 6,300t to the region in February rose from close to 5,000t the previous month to the highest since November.Exports to Latin America rose even amid signs of a steady recovery in base oils demand from China since the start of the year.The strength of China’s recovery has been insufficient to boost Asia-Pacific heavy-grade prices to levels that made the trans-Pacific arbitrage unattractive..China’s February base oils imports rise
