South Korea’s base oils exports to China rose to a five-month high in October, covering for a drop in supplies from Taiwan.Base oils exports of 60,900t to China in October rose from 46,000t the previous month and from average levels of around 55,000 t/month over the past year, government data showed.Shipments rose by 16pc and for a second month from year-earlier levels.The rise in shipments added to mixed signals about the state of China’s base oils demand.South Korea’s exports to China rose even with a closed arbitrage to move Group II base oils to the country.Shipments rose even amid rising base oils output in China’s domestic market.The pick-up in shipments also coincided with a slump in Taiwan’s base oils exports to China in October because of plant maintenance work.The 15,000t rise in South Korea’s exports to China in October from September, combined with Taiwan’s 3,000t of shipments to China in October, came to around 18,000t.The volume was close to Taiwan’s typical exports of around 20,000 t/month to China over the past year..S Korea’s Oct base oils exports rise
South Korea’s base oils exports to China rose to a five-month high in October, covering for a drop in supplies from Taiwan.Base oils exports of 60,900t to China in October rose from 46,000t the previous month and from average levels of around 55,000 t/month over the past year, government data showed.Shipments rose by 16pc and for a second month from year-earlier levels.The rise in shipments added to mixed signals about the state of China’s base oils demand.South Korea’s exports to China rose even with a closed arbitrage to move Group II base oils to the country.Shipments rose even amid rising base oils output in China’s domestic market.The pick-up in shipments also coincided with a slump in Taiwan’s base oils exports to China in October because of plant maintenance work.The 15,000t rise in South Korea’s exports to China in October from September, combined with Taiwan’s 3,000t of shipments to China in October, came to around 18,000t.The volume was close to Taiwan’s typical exports of around 20,000 t/month to China over the past year..S Korea’s Oct base oils exports rise
