Taiwan’s base oils imports fell to a thirteen-month low in August as a drop in shipments from Japan gathered pace.
Total imports of 3,250t in August fell from 4,340t the previous month and by 56pc from year-earlier levels, government data showed.
Imports dipped as supplies from Japan almost ground to a halt.
Shipments from the northeast Asian country came to less than 70t in August for a second month.
The volume fell from typical levels of close to 2,000 t/month in the year to June and to the lowest in more than three years.
Steady monthly shipments had made Japan one of Taiwan’s largest sources of overseas supplies. The volumes consisted mostly of Group I base oils.
Taiwan is reliant on overseas markets for Group I base oils following the closure of its sole Group I plant nearly a decade ago.
The fall in shipments from Japan comes ahead of the imminent closure of another Group I base oils plant in the country in the coming weeks.
The closure of the plant is likely to cut further Japan’s surplus volumes for overseas markets.
