Indonesia’s Feb Grp III exports to NE Asia fall

Indonesia’s Group III base oils exports to China fell in February, adding to signs of a more gradual recovery in demand in the northeast Asian country.

Exports of 2,000t to China in February fell from 2,500t in January to a three-month low, government data showed.

Exports to South Korea also fell. Shipments of 5,000t in February fell from more than 8,000t the previous month to the lowest since October.

A large share of supplies bound for South Korea often then move on to the US, where Group III supply-demand fundamentals have weakened this year.