South Korea’s base oils exports to northeast Asia stayed lower than usual in August for a second month even with an improvement in shipments to China.
Total exports of little more than 41,000t to China in August rose from 25,000t the previous month, government data showed.
The volume was still down 28pc from year-earlier levels, from average levels of 52,700 t/month in 2022 and from average levels of 68,000 t/month in 2021.
A dip in shipments to Japan compounded the still-low volumes to China.
Exports of 16,200t to Japan in August fell from 28,000t the previous month to a three-year low.
Total exports to northeast Asian markets still rose to 60,200t in August, up from 53,300t the previous month.
The volume was the second-lowest since 2017.