S Korea’s April exports to SE Asia fall

South Korea’s base oils exports to southeast Asia fell in April to their lowest level this year amid a dip in shipments to Indonesia and a slowdown in regional demand.

Base oils exports of 67,950t to southeast Asia in April fell from 75,990t the previous month and by 5pc from year-earlier levels, government data showed.

The slowdown contrasted with a rise in South Korea’s total base oils exports in April and an increase in shipments to northeast Asia.

Exports fell mostly because of a slump in shipments to Indonesia.

Shipments to the country fell to a five-month low of less than 6,000t.

The volume was down from typical levels of more than 11,000 t/month to the country over the past year.

Shipments from Singapore to Indonesia also showed signs of falling in April, raising the prospect of a sharp slowdown in the country’s imports last month.