South Korea’s base oils exports surged to an eight-month high in October, more than covering for a drop in supplies from Taiwan.Total base oils exports of 405,300t in October rose from 331,000t the previous month and by 22pc from year-earlier levels, government data showed.The year-on-year rise in shipments was the first in six months.The rebound in supplies lifted total exports to 3.50mn t in the first ten months of the year.The shortfall from year-earlier levels narrowed to 80,000t, from more than 150,000t in the first nine months of the year.South Korea's base oils exports fell in the second and third quarters of the year because of a combination of plant maintenance work and run-cuts.The rebound in shipments in October coincided with a recovery in regional base oils values versus crude and diesel prices, ICIS data showed.It also coincided with the shutdown of a Group II base oils plant in Taiwan for scheduled maintenance work.The rise in shipments from South Korea more than covered for Taiwan’s typical export volumes of around 40,000 t/month..Taiwan’s Oct base oils exports fall
South Korea’s base oils exports surged to an eight-month high in October, more than covering for a drop in supplies from Taiwan.Total base oils exports of 405,300t in October rose from 331,000t the previous month and by 22pc from year-earlier levels, government data showed.The year-on-year rise in shipments was the first in six months.The rebound in supplies lifted total exports to 3.50mn t in the first ten months of the year.The shortfall from year-earlier levels narrowed to 80,000t, from more than 150,000t in the first nine months of the year.South Korea's base oils exports fell in the second and third quarters of the year because of a combination of plant maintenance work and run-cuts.The rebound in shipments in October coincided with a recovery in regional base oils values versus crude and diesel prices, ICIS data showed.It also coincided with the shutdown of a Group II base oils plant in Taiwan for scheduled maintenance work.The rise in shipments from South Korea more than covered for Taiwan’s typical export volumes of around 40,000 t/month..Taiwan’s Oct base oils exports fall
