China’s base oils demand fell to a five-month low in July as slowing economic activity compounded a seasonal slowdown in lube consumption.Notional base oils demand, or domestic production plus net imports, fell to less than 445,000t in July, government and industry data showed.The volume fell from close to 540,000t in June to the lowest since February.The slowdown cut demand to 3.49mn t in the first seven months of the year, down from 3.81mn t during the same period last year.Demand fell this year despite the removal of Covid-related restrictions from the end of last year.Weak demand in July kept pressure on China’s domestic base oils prices and incentivized refiners to cut production or extend plant shutdowns..China’s July base oils output falls
China’s base oils demand fell to a five-month low in July as slowing economic activity compounded a seasonal slowdown in lube consumption.Notional base oils demand, or domestic production plus net imports, fell to less than 445,000t in July, government and industry data showed.The volume fell from close to 540,000t in June to the lowest since February.The slowdown cut demand to 3.49mn t in the first seven months of the year, down from 3.81mn t during the same period last year.Demand fell this year despite the removal of Covid-related restrictions from the end of last year.Weak demand in July kept pressure on China’s domestic base oils prices and incentivized refiners to cut production or extend plant shutdowns..China’s July base oils output falls
