India’s Group III 4cst base oils imports rose to a five-month high in January, contrasting with the more muted rise in the country’s total imports..India’s January base oils imports rise.Rising imports of the premium-grade supplies mirrored a sustained rise in India’s passenger car sales over most of the past year.The rise in Group III base oils imports also reflected ongoing demand for supplies for which India is structurally short.That shortage is set to shrink over the coming years as new premium-grade base oil production capacity comes online in India. Some of the new capacity is set to start up later this year.Demand for overseas supplies is likely to remain strong in the more immediate term as supply increasingly lags demand.Any new supplies also require OEM approvals before a more widespread adoption by automobile and industrial manufacturers.India’s imports of Group III 4cst and 8cst base oils combined came to more than 24,000t in January, provisional customs data showed..The volume rose from less than 15,500t the previous month to the highest since last August.Imports of more than 14,500t of 4cst base oils in January were the highest in a year. The volume exceeded import volumes of 8cst base oils for the third time in four months.India’s imports of 8cst base oils had previously accounted for more than 70pc of the total volume of the two grades in 2021 and more than 60pc in 2022.Overseas refiners often moved large volumes of Group III 8cst base oils to India at competitive prices to clear surplus supplies.Their supply of Group III 4cst was tighter, and prices much higher, in view of the product’s role as a key feedstock for the production of high-end engine oils.India’s imports of 4cst base oils from South Korea rose in January to the highest in more than two years. Supplies from the UAE also rose strongly..S Korea Jan exports to India/SE Asia rise
India’s Group III 4cst base oils imports rose to a five-month high in January, contrasting with the more muted rise in the country’s total imports..India’s January base oils imports rise.Rising imports of the premium-grade supplies mirrored a sustained rise in India’s passenger car sales over most of the past year.The rise in Group III base oils imports also reflected ongoing demand for supplies for which India is structurally short.That shortage is set to shrink over the coming years as new premium-grade base oil production capacity comes online in India. Some of the new capacity is set to start up later this year.Demand for overseas supplies is likely to remain strong in the more immediate term as supply increasingly lags demand.Any new supplies also require OEM approvals before a more widespread adoption by automobile and industrial manufacturers.India’s imports of Group III 4cst and 8cst base oils combined came to more than 24,000t in January, provisional customs data showed..The volume rose from less than 15,500t the previous month to the highest since last August.Imports of more than 14,500t of 4cst base oils in January were the highest in a year. The volume exceeded import volumes of 8cst base oils for the third time in four months.India’s imports of 8cst base oils had previously accounted for more than 70pc of the total volume of the two grades in 2021 and more than 60pc in 2022.Overseas refiners often moved large volumes of Group III 8cst base oils to India at competitive prices to clear surplus supplies.Their supply of Group III 4cst was tighter, and prices much higher, in view of the product’s role as a key feedstock for the production of high-end engine oils.India’s imports of 4cst base oils from South Korea rose in January to the highest in more than two years. Supplies from the UAE also rose strongly..S Korea Jan exports to India/SE Asia rise
