Taiwan’s base oils exports held firm in October even as they fell from the previous month, amid an improvement in demand from China.The improvement was relative.Exports to China rose to a six-month high. They were still much lower than usual.Total base oils exports of 44,720t in October fell from more than 61,000t the previous month, government data showed..The unusually firm September volumes were the highest since 2019. The shipments reflected moves to clear a large build-up of supplies that had accumulated during the third quarter of the year.The October exports were still high and well above more typical levels of around 35,000 t/month in recent years.Exports so far in November showed signs of staying equally firm, if not higher.The firm volumes only partly reflected firmer demand from China.Exports to that market rose to 14,620t in October. The volume was the highest since May, when lockdowns in China triggered an abrupt slump in lube consumption and demand for overseas shipments.The firmer exports in October helped to meet a seasonal rise in Chinese demand and cover for tighter-than-expected domestic supply in that market..China's October base oils output stays low.The export volumes to China were still low. Shipments to China had averaged more than 20,000 t/month in the two years to 2022. They had typically accounted for more than 60pc of Taiwan’s shipments during that time.Exports to China averaged around 15,000 t/month in the first 10 months of this year and accounted for less than 40pc of Taiwan’s total shipments during that time.The relatively low October volumes reflected the more muted seasonal pick-up in Chinese demand compared with recent years.The lower exports also left Taiwan continuing to target other markets to place the large volume of supplies that previously moved to China..Taiwan’s Sep base oils exports surge
Taiwan’s base oils exports held firm in October even as they fell from the previous month, amid an improvement in demand from China.The improvement was relative.Exports to China rose to a six-month high. They were still much lower than usual.Total base oils exports of 44,720t in October fell from more than 61,000t the previous month, government data showed..The unusually firm September volumes were the highest since 2019. The shipments reflected moves to clear a large build-up of supplies that had accumulated during the third quarter of the year.The October exports were still high and well above more typical levels of around 35,000 t/month in recent years.Exports so far in November showed signs of staying equally firm, if not higher.The firm volumes only partly reflected firmer demand from China.Exports to that market rose to 14,620t in October. The volume was the highest since May, when lockdowns in China triggered an abrupt slump in lube consumption and demand for overseas shipments.The firmer exports in October helped to meet a seasonal rise in Chinese demand and cover for tighter-than-expected domestic supply in that market..China's October base oils output stays low.The export volumes to China were still low. Shipments to China had averaged more than 20,000 t/month in the two years to 2022. They had typically accounted for more than 60pc of Taiwan’s shipments during that time.Exports to China averaged around 15,000 t/month in the first 10 months of this year and accounted for less than 40pc of Taiwan’s total shipments during that time.The relatively low October volumes reflected the more muted seasonal pick-up in Chinese demand compared with recent years.The lower exports also left Taiwan continuing to target other markets to place the large volume of supplies that previously moved to China..Taiwan’s Sep base oils exports surge
