South Korea’s base oils exports to India rose to a four-month high in August as a wave of arbitrage shipments from other markets began to slow.Base oils exports to the Mideast Gulf stayed higher than usual amid firm demand and a workable arbitrage.Exports of 68,500t to India in August more than doubled from around 31,000t the previous month, government data showed.Exports were almost the same as year-earlier levels, after shipments fell in the three months to July.The drop in shipments coincided with plant maintenance in South Korea and with the arrival in India of a wave of arbitrage shipments from the US.South Korea’s base oils exports of 21,600t to the Mideast Gulf in August fell from more than 26,000t the previous month.They still rose more than fourfold from year-earlier levels, lifting total shipments to 178,100t in the first eight months of the year.The volume more than doubled from less than 76,500t during the same period last year..S Korea’s August base oils exports rise
South Korea’s base oils exports to India rose to a four-month high in August as a wave of arbitrage shipments from other markets began to slow.Base oils exports to the Mideast Gulf stayed higher than usual amid firm demand and a workable arbitrage.Exports of 68,500t to India in August more than doubled from around 31,000t the previous month, government data showed.Exports were almost the same as year-earlier levels, after shipments fell in the three months to July.The drop in shipments coincided with plant maintenance in South Korea and with the arrival in India of a wave of arbitrage shipments from the US.South Korea’s base oils exports of 21,600t to the Mideast Gulf in August fell from more than 26,000t the previous month.They still rose more than fourfold from year-earlier levels, lifting total shipments to 178,100t in the first eight months of the year.The volume more than doubled from less than 76,500t during the same period last year..S Korea’s August base oils exports rise