China’s base oils imports fell to an eleven-month low in July, adding to a raft of signs of slower-than-expected demand for the lubricants feedstock.Base oils imports of 104,200t in July fell from 166,100t in June, government data showed. The volume was the lowest since August 2022.Imports of 1.14mn t in the first seven months of the year were down 5pc from 1.20mn t during the same period last year.Base oils imports fell in July partly because of a seasonal dip in demand at the start of the third quarter of the year.The country’s weaker-than-expected economic recovery compounded the slowdown in demand.Concern about the outlook extended the slowdown as domestic blenders preferred to maintain low inventories and to procure supplies on a need-to basis. .China’s July base oils output falls
China’s base oils imports fell to an eleven-month low in July, adding to a raft of signs of slower-than-expected demand for the lubricants feedstock.Base oils imports of 104,200t in July fell from 166,100t in June, government data showed. The volume was the lowest since August 2022.Imports of 1.14mn t in the first seven months of the year were down 5pc from 1.20mn t during the same period last year.Base oils imports fell in July partly because of a seasonal dip in demand at the start of the third quarter of the year.The country’s weaker-than-expected economic recovery compounded the slowdown in demand.Concern about the outlook extended the slowdown as domestic blenders preferred to maintain low inventories and to procure supplies on a need-to basis. .China’s July base oils output falls
