South Korea’s base oils exports fell in May to their lowest level this year ahead of plant maintenance work in the second quarter of the year.Base oils exports of 333,970t in May fell from 388,550t the previous month, government data showed.The volume fell by 12pc from year-earlier levels to the lowest since December.Exports of 1.90mn t in the first five months of the year were still up 5pc from 1.82mn t during the same period last year.Base oils exports rose this year even as Asia’s lube demand fell in twelve of the last thirteen months to April.The lower demand cushioned the impact of the drop in exports in May.The fall in shipments came ahead of plant maintenance work that was scheduled to start in June.Refiners typically build stocks ahead of plant maintenance work in order to maintain stable supplies to term buyers..Taiwan’s May base oils exports rise.Contact us for more information about the data for these stories
South Korea’s base oils exports fell in May to their lowest level this year ahead of plant maintenance work in the second quarter of the year.Base oils exports of 333,970t in May fell from 388,550t the previous month, government data showed.The volume fell by 12pc from year-earlier levels to the lowest since December.Exports of 1.90mn t in the first five months of the year were still up 5pc from 1.82mn t during the same period last year.Base oils exports rose this year even as Asia’s lube demand fell in twelve of the last thirteen months to April.The lower demand cushioned the impact of the drop in exports in May.The fall in shipments came ahead of plant maintenance work that was scheduled to start in June.Refiners typically build stocks ahead of plant maintenance work in order to maintain stable supplies to term buyers..Taiwan’s May base oils exports rise.Contact us for more information about the data for these stories