China’s base oils demand fell in May for the sixth time in seven months in an economy facing headwinds from growing trade tensions to a rising fleet of electric vehicles.Slower demand curbed the country’s requirements for base oils supplies from overseas markets as domestic production covered more of its requirements.The gradual restart of more base oils units, following a heavy round of plant maintenance since March, raised the prospect of a further rise in domestic output.Rising domestic production would curb further the country's need for base oils imports.China’s base oils demand, or total output and net imports combined, came to 523,000 tonnes in May, government and industry data showed. .The volume fell by 2% from year-earlier levels and matched the lowest level in the last ten months.Base oils imports accounted for 18% of the total in May, down from a 24% share in the first four months of the year.The contraction was larger for shipments from sources of Group II and especially Group III base oils.Imports of Group I base oils by contrasted accounted for a larger share even as total demand for the product fell.China’s imports from sources of Group I base oils, such as Thailand and Saudi Arabia, came to 10,500 tonnes in May and to more than 55,000 tonnes in the first five months of the year.The volume was up from less than 54,000 tonnes during the same five-month period last year and accounted for 16% of China’s total Group I supply. The share was up from 12% during the same period last year.The rising volume and share of Group I base oils imports contrasted with lower imports of Group II base oils even amid signs of steady demand for the premium-grade product.China’s base oils imports from Singapore, Taiwan and South Korea combined came to 455,000 tonnes in the first five months of the year, down 15% from year-earlier levels.Those imports, combined with China’s domestic Group II base oils output, held steady at more than 2.26 million tonnes during the same five-month period this year and last year.The dynamic highlighted the rise in domestic base oils output as a share of that total volume.The smaller volume and share of imports in turn highlighted China’s growing self-sufficiency for supplies of premium-grade base oils and the need for those shipments to target other markets..China’s May base oils output falls.India’s May lube demand falls.China’s April base oil demand holds firm
China’s base oils demand fell in May for the sixth time in seven months in an economy facing headwinds from growing trade tensions to a rising fleet of electric vehicles.Slower demand curbed the country’s requirements for base oils supplies from overseas markets as domestic production covered more of its requirements.The gradual restart of more base oils units, following a heavy round of plant maintenance since March, raised the prospect of a further rise in domestic output.Rising domestic production would curb further the country's need for base oils imports.China’s base oils demand, or total output and net imports combined, came to 523,000 tonnes in May, government and industry data showed. .The volume fell by 2% from year-earlier levels and matched the lowest level in the last ten months.Base oils imports accounted for 18% of the total in May, down from a 24% share in the first four months of the year.The contraction was larger for shipments from sources of Group II and especially Group III base oils.Imports of Group I base oils by contrasted accounted for a larger share even as total demand for the product fell.China’s imports from sources of Group I base oils, such as Thailand and Saudi Arabia, came to 10,500 tonnes in May and to more than 55,000 tonnes in the first five months of the year.The volume was up from less than 54,000 tonnes during the same five-month period last year and accounted for 16% of China’s total Group I supply. The share was up from 12% during the same period last year.The rising volume and share of Group I base oils imports contrasted with lower imports of Group II base oils even amid signs of steady demand for the premium-grade product.China’s base oils imports from Singapore, Taiwan and South Korea combined came to 455,000 tonnes in the first five months of the year, down 15% from year-earlier levels.Those imports, combined with China’s domestic Group II base oils output, held steady at more than 2.26 million tonnes during the same five-month period this year and last year.The dynamic highlighted the rise in domestic base oils output as a share of that total volume.The smaller volume and share of imports in turn highlighted China’s growing self-sufficiency for supplies of premium-grade base oils and the need for those shipments to target other markets..China’s May base oils output falls.India’s May lube demand falls.China’s April base oil demand holds firm
