South Korea’s base oils exports fell to their lowest in more than three years in June as scheduled plant maintenance work cut supply.Base oils exports of 284,420t in June fell from an already-low 333,540t the previous month, government data showed.The volume was the lowest since dipping to less than 250,000t in May 2020.Exports fell at that time in 2020 as lockdowns throughout the world slashed demand for base oils and lubricants.The fall in exports this time coincided with the shutdown of a key Group III base oils plant in South Korea for maintenance work.The size of the drop in exports pointed to a drop in shipments from other refiners, at a time when regional base oils prices faced growing pressure from weaker supply-demand fundamentals.South Korea’s total base oils exports of 1.00mn t in the second quarter of the year fell from 1.18mn t during the first three months of the year and from 1.02mn t during the same period last year. .Taiwan’s June base oils exports fall
South Korea’s base oils exports fell to their lowest in more than three years in June as scheduled plant maintenance work cut supply.Base oils exports of 284,420t in June fell from an already-low 333,540t the previous month, government data showed.The volume was the lowest since dipping to less than 250,000t in May 2020.Exports fell at that time in 2020 as lockdowns throughout the world slashed demand for base oils and lubricants.The fall in exports this time coincided with the shutdown of a key Group III base oils plant in South Korea for maintenance work.The size of the drop in exports pointed to a drop in shipments from other refiners, at a time when regional base oils prices faced growing pressure from weaker supply-demand fundamentals.South Korea’s total base oils exports of 1.00mn t in the second quarter of the year fell from 1.18mn t during the first three months of the year and from 1.02mn t during the same period last year. .Taiwan’s June base oils exports fall
