India’s base oils imports climbed to a five-month high in April on the back of rising flows from regular sources like Singapore and a pick-up in shipments from less regular suppliers like China and Indonesia.Total imports of close to 350,000 tonnes in April rose from less than 290,000 tonnes the previous month, provisional customs data showed. The volume was the highest since last November.The pick-up in shipments helped to replenish Indian buyers’ lower inventories following a seasonal rise in the country’s lube demand in the month of March.More arbitrage shipments from markets like the US were expected to reach India this month.Buyers' replenished stocks and slower lube demand at the start of the second quarter of the year showed signs of curbing their urgency to lock in more shipments unless prices were at competitive levels.The pick-up in imports in April also highlighted the global market’s plentiful supply of base oils, especially when prices were at levels that incentivized refiners to increase output.Signs of ready availability of supply cushioned the impact of factors such as logistical issues with shipments from Europe and the US, as well as lower Group I supply in Asia.India’s imports got a boost in April from a sustained rise in shipments from Singapore to the highest level in at least seven years.Shipments from the island-state had already been higher than usual the previous month.Supplies from China rose in April to a thirty-one-month high of more than 10,000 tonnes.Shipments from China previously mostly consisted of Group II and especially Group I light-grade base oils.The shipments in April mostly consisted of very-light grade base oils and Group III 4cSt base oils. There had previously been scant such shipments of these grades from China to India.Imports from the US stayed relatively low in April, with supplies consisting mostly of naphthenic base oils.Imports from that source were likely to rise this month following the expected arrival of several arbitrage shipments of Group II base oils..India’s April lube demand mixed.India’s March base oils supply lags demand
India’s base oils imports climbed to a five-month high in April on the back of rising flows from regular sources like Singapore and a pick-up in shipments from less regular suppliers like China and Indonesia.Total imports of close to 350,000 tonnes in April rose from less than 290,000 tonnes the previous month, provisional customs data showed. The volume was the highest since last November.The pick-up in shipments helped to replenish Indian buyers’ lower inventories following a seasonal rise in the country’s lube demand in the month of March.More arbitrage shipments from markets like the US were expected to reach India this month.Buyers' replenished stocks and slower lube demand at the start of the second quarter of the year showed signs of curbing their urgency to lock in more shipments unless prices were at competitive levels.The pick-up in imports in April also highlighted the global market’s plentiful supply of base oils, especially when prices were at levels that incentivized refiners to increase output.Signs of ready availability of supply cushioned the impact of factors such as logistical issues with shipments from Europe and the US, as well as lower Group I supply in Asia.India’s imports got a boost in April from a sustained rise in shipments from Singapore to the highest level in at least seven years.Shipments from the island-state had already been higher than usual the previous month.Supplies from China rose in April to a thirty-one-month high of more than 10,000 tonnes.Shipments from China previously mostly consisted of Group II and especially Group I light-grade base oils.The shipments in April mostly consisted of very-light grade base oils and Group III 4cSt base oils. There had previously been scant such shipments of these grades from China to India.Imports from the US stayed relatively low in April, with supplies consisting mostly of naphthenic base oils.Imports from that source were likely to rise this month following the expected arrival of several arbitrage shipments of Group II base oils..India’s April lube demand mixed.India’s March base oils supply lags demand
