Japan’s base oils and lubricants consumption rose in November as the relaxation of Covid-related restrictions boosted activity in the services sector.The sector could get a further boost from China’s relaxation of travel-related restrictions from first-half January. The move is likely to trigger a further boost for Japan’s tourism industry.The country's industrial lubricants consumption remained under pressure from a sustained slowdown in industrial activity.An extension of that slowdown into the start of this year raised the prospect of maintaining a squeeze on industrial lubricants demand.Japan’s total base oils and lube sales of 155,360 kilolitres (137,620t) in November rose by 40pc from 110,600kl the same month a year earlier, government data showed..Sales of 1.60mn kl in the first eleven months of the year were up 18pc from year-earlier levels of 1.36mn kl. The volume was the highest in more than a decade.The rise in sales for the fifth time in six months partly reflected a lower base level in 2021, when Covid-related restrictions continued to dampen demand.The gradual removal of those restrictions boosted consumption in 2022.The relaxation of restrictions included an almost complete re-opening of the country to overseas tourists in October.The move triggered a surge in tourism activity.The number of international tourists visiting Japan in October more than doubled from the previous month to the highest since early 2020.The rise in the number of tourists added to ongoing strength in Japan’s services activity through the fourth quarter of the year.Passenger car engine oils (PCMO) demand is seen as a proxy for activity in the services sector.The country’s PCMO consumption was steady in October.The relative strength contrasted with sliding consumption of heavy-duty engine oils (HDEO) and non-automobile lubricants. HDEO is more reflective of activity in the industrial sector.Japan’s industrial production fell in November for the first time in four months. The country’s manufacturing purchasing managers’ index for December pointed to contraction for a second month..Japan’s Nov base oils/lube output rises
Japan’s base oils and lubricants consumption rose in November as the relaxation of Covid-related restrictions boosted activity in the services sector.The sector could get a further boost from China’s relaxation of travel-related restrictions from first-half January. The move is likely to trigger a further boost for Japan’s tourism industry.The country's industrial lubricants consumption remained under pressure from a sustained slowdown in industrial activity.An extension of that slowdown into the start of this year raised the prospect of maintaining a squeeze on industrial lubricants demand.Japan’s total base oils and lube sales of 155,360 kilolitres (137,620t) in November rose by 40pc from 110,600kl the same month a year earlier, government data showed..Sales of 1.60mn kl in the first eleven months of the year were up 18pc from year-earlier levels of 1.36mn kl. The volume was the highest in more than a decade.The rise in sales for the fifth time in six months partly reflected a lower base level in 2021, when Covid-related restrictions continued to dampen demand.The gradual removal of those restrictions boosted consumption in 2022.The relaxation of restrictions included an almost complete re-opening of the country to overseas tourists in October.The move triggered a surge in tourism activity.The number of international tourists visiting Japan in October more than doubled from the previous month to the highest since early 2020.The rise in the number of tourists added to ongoing strength in Japan’s services activity through the fourth quarter of the year.Passenger car engine oils (PCMO) demand is seen as a proxy for activity in the services sector.The country’s PCMO consumption was steady in October.The relative strength contrasted with sliding consumption of heavy-duty engine oils (HDEO) and non-automobile lubricants. HDEO is more reflective of activity in the industrial sector.Japan’s industrial production fell in November for the first time in four months. The country’s manufacturing purchasing managers’ index for December pointed to contraction for a second month..Japan’s Nov base oils/lube output rises
