Taiwan’s May base oils exports rise

Taiwan’s base oils exports rose in May but stayed lower than usual amid a further slowdown in shipments to China.

Base oils exports of 38,280t in May rose from 32,120t the previous month, government data showed.

The volume was still lower than usual.

Average exports of 35,200 t/month so far in the second quarter of the year were down from more than 48,000 t/month in the first three months of the year.

The drop in exports coincided with plant maintenance work in the Asia-Pacific region in the second quarter and a slowdown in regional demand after consumption got a seasonal boost in March.

Base oils exports fell even as regional base oils prices extended their strong rise relative to diesel prices during the second quarter of the year.

More than half the May volume of exports consisted of light-grade base oils. The share had been more evenly spread between light and heavy grades for the exports in April.