Taiwan’s June base oils exports to China fall

Taiwan’s base oils exports to China fell to an eleven-month low in June as weak demand and sufficient domestic supply curbed requirements for additional shipments.

Base oils exports of 5,950t to China in June fell from more than 15,000t the previous month, government data showed.

The slowdown in shipments cut total exports to China to 41,080t in the second quarter of the year, down from 78,000t during the first three months of the year.

The slowdown mirrored a similar pattern in first-half 2022, when lockdowns in China slashed demand for overseas supplies in the second quarter.

Taiwan’s exports to China fell again in the second quarter of this year despite the lack of any lockdowns in the country.

The slowdown instead added to signs of China’s anemic economic recovery following the ending of its zero-Covid policy late last year.