South Korea’s base oils exports fell in March from a three-year high the previous month but remained higher than usual.Exports of 375,000t in March fell from 445,930t the previous month, government data showed.The February volume had been the highest since early 2020. The March volume was the second highest in six months.The sustained pick-up in exports in the first three months of the year lifted quarterly shipments to 1.18mn t. The volume was the highest since end-2021.The rise in volumes helped to cover a gradual pick-up in base oils demand in China as well as firm buying interest in southeast Asia.Refiners still had surplus volumes to clear even with the pick-up in regional demand.A large portion of the surplus supplies moved westwards towards the Mideast Gulf and Africa..Asia’s February base oils exports rise
South Korea’s base oils exports fell in March from a three-year high the previous month but remained higher than usual.Exports of 375,000t in March fell from 445,930t the previous month, government data showed.The February volume had been the highest since early 2020. The March volume was the second highest in six months.The sustained pick-up in exports in the first three months of the year lifted quarterly shipments to 1.18mn t. The volume was the highest since end-2021.The rise in volumes helped to cover a gradual pick-up in base oils demand in China as well as firm buying interest in southeast Asia.Refiners still had surplus volumes to clear even with the pick-up in regional demand.A large portion of the surplus supplies moved westwards towards the Mideast Gulf and Africa..Asia’s February base oils exports rise
