China’s paraffinic base oils supply likely rose in August closer to monthly levels in the second quarter of the year amid signs of a pick-up in imports.Total base oils supply likely to rose to more than 525,000t in August, up from less than 455,000t the previous month.The projection was derived from China’s base oils output combined with imports based on shipping and port data for the month of August.The higher supply would be closer to levels of around 540,000-555,000 t/month in May and June.Supply likely rose even as China’s paraffinic base oils output edged up only slightly in August from the previous month.The higher volume instead reflected signs of a pick-up in imports closer to levels in first-half 2023. The supplies included a rebound in shipments from Taiwan.The premium of China’s domestic Group II light-grade base oils prices over fob Asia prices rose in July to its highest in more than two months, ICIS data showed. The wider premium made more feasible the arbitrage to move more supplies to China..China’s Aug base oils output steady
China’s paraffinic base oils supply likely rose in August closer to monthly levels in the second quarter of the year amid signs of a pick-up in imports.Total base oils supply likely to rose to more than 525,000t in August, up from less than 455,000t the previous month.The projection was derived from China’s base oils output combined with imports based on shipping and port data for the month of August.The higher supply would be closer to levels of around 540,000-555,000 t/month in May and June.Supply likely rose even as China’s paraffinic base oils output edged up only slightly in August from the previous month.The higher volume instead reflected signs of a pick-up in imports closer to levels in first-half 2023. The supplies included a rebound in shipments from Taiwan.The premium of China’s domestic Group II light-grade base oils prices over fob Asia prices rose in July to its highest in more than two months, ICIS data showed. The wider premium made more feasible the arbitrage to move more supplies to China..China’s Aug base oils output steady
