South Korea’s base oils exports fell to a four-month low in November, coinciding with a slump in shipments from Taiwan and signs of a slowdown in flows from Singapore.Total exports of 310,000t in November fell from more than 400,000t the previous month and by 8pc from year-earlier levels, government data showed.The drop in shipments cut total exports to a seven-year low of 3.81mn t in the first eleven months of the year.Base oils exports fell in November despite steady production levels during the previous three months and increasingly firm Group II base oils values relative to feedstock and competing fuel prices.But global Group III base oils values remained under sustained pressure versus feedstock prices.The drop in shipments coincided with a sustained slump in base oils exports in Taiwan because of plant maintenance work.Exports from Singapore also showed signs of falling in November from more typical levels.Exports from Japan also faced the prospect of slowing following the closure of a base oils unit in the country in October.The closure raised the prospect of a rise in Japan’s requirements for overseas supplies to cover for the lost output.South Korea’s base oils exports to Japan rose in November to an eighteen-month high of close to 36,000t.Its exports to China fell back to 49,200t in November, down from an eight-month high of close to 61,000t the previous month..Taiwan’s Nov base oils exports stay low
South Korea’s base oils exports fell to a four-month low in November, coinciding with a slump in shipments from Taiwan and signs of a slowdown in flows from Singapore.Total exports of 310,000t in November fell from more than 400,000t the previous month and by 8pc from year-earlier levels, government data showed.The drop in shipments cut total exports to a seven-year low of 3.81mn t in the first eleven months of the year.Base oils exports fell in November despite steady production levels during the previous three months and increasingly firm Group II base oils values relative to feedstock and competing fuel prices.But global Group III base oils values remained under sustained pressure versus feedstock prices.The drop in shipments coincided with a sustained slump in base oils exports in Taiwan because of plant maintenance work.Exports from Singapore also showed signs of falling in November from more typical levels.Exports from Japan also faced the prospect of slowing following the closure of a base oils unit in the country in October.The closure raised the prospect of a rise in Japan’s requirements for overseas supplies to cover for the lost output.South Korea’s base oils exports to Japan rose in November to an eighteen-month high of close to 36,000t.Its exports to China fell back to 49,200t in November, down from an eight-month high of close to 61,000t the previous month..Taiwan’s Nov base oils exports stay low
