South Korea’s base oils exports to China fell in March at a time of year when China’s imports typically rise.Exports of 62,230t to China in March fell from 111,980t the previous month, government data showed. The February volume had been the highest since mid-2020.The March volume was higher than average levels of 53,000 t/month in 2022 but down from 68,000 t/month in 2021.Exports fell even as China’s domestic base oils output stayed low in March and plant maintenance work in the country extended well into the second quarter of the year.The drop in shipments suggested the recovery in Chinese demand remained slow..Insight: China’s March base oils output stays low
