South Korea’s base oils exports to the US rose to a four-month high in May while shipments to Latin America fell to a five-month low.Exports to the US recovered to 65,910t in May, up from a six-month low of 46,420t in April, government data showed.The rise in shipments lifted total exports to the US to 286,770t in the first five months of the year.The volume was up 3pc from 277,190t during the same period last year.Exports rose even in the face of weaker domestic lube demand in the US and growing downward pressure on Group III base oils prices.South Korea’s base oils exports to Latin America fell to less than 3,000t in May, from more than 11,500t the previous month.The lower volumes coincided with an increasingly narrow discount of Asia-Pacific Group II prices to US prices. The trend made less feasible the attraction of moving arbitrage shipments to Latin America..S Korea’s May base oils exports fall.Contact us for more information about the data for these stories
