Turkey's April premium-grade imports rise

Turkey’s imports of premium-grade base oils rose to a four-month high in April, contrasting with lower Group I imports.

Premium-grade base oils supply accounted for a growing share of Turkey’s base oils market in recent years, while the Group I share dwindled.

That trend reversed so far this year amid a pick-up in supplies of Group I base oils.

Premium-grade base oils imports of 28,270t in April edged up from 27,000t the previous month and by 18pc from year-earlier levels.

Imports of 97,630t in the first four months of the year were up 2pc from 95,430t the same period a year earlier.

Imports got a boost from an unusual surge in supplies from South Korea to more than 4,000t. Imports from the northeast Asian country are typically less than 500 t/month.

The larger volume pointed to the arrival of an arbitrage shipment.