Turkey’s costs for Group I base oils from European suppliers rose in June to a five-month high.Costs for shipments from Russia also rose to a five-month high.The higher costs kept relatively narrow the cost premium of European base oils shipments versus supplies from Russia.The average cost of Group I supplies of Italian origin rose to more than $1,060/t in June, up from around $1,035/t the previous month.The average cost of shipments of Russian origin rose to around $980/t, up from $930/t in May.The cost difference between the two sources narrowed to less than $80/t. It had been close to $300/t in January and averaged more than $650/t during the final four months of last year.Turkey’s share of base oils imports from Europe rose in the first five months of this year, while the share of supplies from Russia fell.The higher share of shipments from Europe coincided with the region's narrower cost premium to supplies from Russia.Turkey’s share of Group I imports from Russia rose in June, even with European base oils shipments staying at competitive prices..Turkey’s June Group I imports fall
Turkey’s costs for Group I base oils from European suppliers rose in June to a five-month high.Costs for shipments from Russia also rose to a five-month high.The higher costs kept relatively narrow the cost premium of European base oils shipments versus supplies from Russia.The average cost of Group I supplies of Italian origin rose to more than $1,060/t in June, up from around $1,035/t the previous month.The average cost of shipments of Russian origin rose to around $980/t, up from $930/t in May.The cost difference between the two sources narrowed to less than $80/t. It had been close to $300/t in January and averaged more than $650/t during the final four months of last year.Turkey’s share of base oils imports from Europe rose in the first five months of this year, while the share of supplies from Russia fell.The higher share of shipments from Europe coincided with the region's narrower cost premium to supplies from Russia.Turkey’s share of Group I imports from Russia rose in June, even with European base oils shipments staying at competitive prices..Turkey’s June Group I imports fall
