China’s base oils imports fell to a four-month low in May, adding to signs of the country’s lower-than-expected pick-up in demand for regional supplies.Base oils imports of 152,590t in May fell from 159,260t the previous month, government data showed.The volume rose by 10pc from year-earlier levels of 138,420t, when lockdowns in key commercial centres like Shanghai slashed China’s lubricants consumption.Base oils imports from South Korea and Taiwan combined fell in May to their lowest this year as lower domestic Group II base oils prices in China made the arbitrage increasingly unattractive.Base oils imports from Thailand and Indonesia combined fell to a five-month low as similarly weak domestic Group I bright stock prices complicated that arbitrage..S Korea’s May exports to China steady.Contact us for more information about the data for these stories
China’s base oils imports fell to a four-month low in May, adding to signs of the country’s lower-than-expected pick-up in demand for regional supplies.Base oils imports of 152,590t in May fell from 159,260t the previous month, government data showed.The volume rose by 10pc from year-earlier levels of 138,420t, when lockdowns in key commercial centres like Shanghai slashed China’s lubricants consumption.Base oils imports from South Korea and Taiwan combined fell in May to their lowest this year as lower domestic Group II base oils prices in China made the arbitrage increasingly unattractive.Base oils imports from Thailand and Indonesia combined fell to a five-month low as similarly weak domestic Group I bright stock prices complicated that arbitrage..S Korea’s May exports to China steady.Contact us for more information about the data for these stories
