S Korea’s August base oils exports rise

S Korea’s August base oils exports rise

South Korea’s base oils exports recovered in August following the completion of major plant-maintenance work the previous month.

The volume was still the fifth-lowest in more than three years. The lowest and second-lowest volumes were in June and July.

Total exports of 316,500t in August rose from a three-year low of 259,300t the previous month, government data showed.

Exports fell by 3pc and for a fourth straight month from year-earlier levels.

The slowdown cut total shipments to 2.76mn t in the first eight months of the year, down 3pc from an already-low 2.84mn t during the same period last year.

Exports stayed low even after the restart of a Group III base oils plant in July following maintenance work that began in May.

Lower production levels at another base oils unit in August coincided with increasingly weak regional base oils values versus crude and diesel, ICIS data showed. 

S Korea’s August base oils exports rise
S Korea’s July base oils output edges up

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