Taiwan’s Sept base oil exports hold firm

Taiwan’s base oils exports held relatively firm in September even as they fell from the previous month because of a slump in shipments to China.

Total exports of 41,300t in September fell from 54,100t the previous month, government data showed.

The volume was the second-highest in the last six months and just below average levels of close to 43,000 t/month over the past year.

Exports held firm ahead of a slump in shipments in October because of the shutdown of Taiwan’s sole base oils unit for scheduled maintenance work.

The pick-up in exports in August and September enabled buyers to boost inventories ahead of the drop in shipments in October.

That pattern failed to extend to China.

Shipments to the country fell to 12,800t in September from 32,000t the previous month. The volume was the third-lowest in the past year.

Exports fell ahead of a typical seasonal rise in China’s lube demand from the end of the third quarter.