South Korea’s base oils exports to the Americas rose to an eleven-month high in October amid a jump in shipments to the US.Total exports of 74,100t to the US in October rose from 58,900t the previous month, government data showed.The volume was well above average levels of less than 55,000 t/month over the past year.The rise in shipments followed a sustained rise in US Group III prices versus Europe Group III prices since April.US prices flipped to a premium to Europe prices in September, ICIS data showed. The premium to Europe prices then rose in October to its highest in almost a year.South Korea’s base oils exports to Latin America were steady at 5,200t in October. Most of the supplies moved to Peru and Colombia.Exports of 21,900t to the region so far in second-half 2023 were down from 31,500t during the same period last year.The lower volume coincided with a less attractive arbitrage between Asia and the Americas..S Korea’s Oct base oils exports rise
South Korea’s base oils exports to the Americas rose to an eleven-month high in October amid a jump in shipments to the US.Total exports of 74,100t to the US in October rose from 58,900t the previous month, government data showed.The volume was well above average levels of less than 55,000 t/month over the past year.The rise in shipments followed a sustained rise in US Group III prices versus Europe Group III prices since April.US prices flipped to a premium to Europe prices in September, ICIS data showed. The premium to Europe prices then rose in October to its highest in almost a year.South Korea’s base oils exports to Latin America were steady at 5,200t in October. Most of the supplies moved to Peru and Colombia.Exports of 21,900t to the region so far in second-half 2023 were down from 31,500t during the same period last year.The lower volume coincided with a less attractive arbitrage between Asia and the Americas..S Korea’s Oct base oils exports rise
