South Korea’s base oils exports to China fell in July to their second-lowest in more than a decade in the face of persistently-weak demand.Base oils exports of 25,050t to China in July fell from close to 55,000t the previous month, government data showed.Exports fell by 28pc from year-earlier levels, when lockdowns in China slashed lubricants and base oils consumption.China removed most of its Covid-related restrictions at the end of last year. The July export volume was down from typical levels of more than 55,000 t/month to China over the last year and more than 68,000 t/month in 2021.South Korea's base oils exports to China were lower than the July level only once in the last decade, in November 2022.Base oils exports of 28,000t to Japan in July rose from 24,810t the previous month.The shipments exceeded the volume bound for China for the first time since last November and for only the second time in more than a decade. .S Korea’s July base oils exports fall
