India’s base oils imports fell to a five-month low in March, contrasting with a seasonal surge in the country’s lube demand.The disconnect raised the prospect of India’s base oils supply lagging demand in the month of March and the need for blenders to replenish depleted stocks over the following months.Those stocks were likely to get a boost this month amid signs of a pick-up in the arrival of shipments from South Korea and the US, as well as the arrival of another cargo from Saudi Arabia.The rise in shipments contrasted with a slump in imports from the US in March and still lower-than-usual flows of premium-grade supplies from the Mideast Gulf.Signs of growing volatility of supplies from those sources increased the importance of steady volumes from more regular sources like South Korea and Singapore.India’s total base oils imports of more than 285,000 tonnes in March fell from around 295,000 tonnes the previous month to the lowest since October, provisional customs data showed.Imports fell as shipments from the US dipped to less than 10,000 tonnes in March. They had exceeded 16,000 tonnes in each of the previous four months.Imports of less than 500 tonnes from Taiwan in March were the second lowest in almost four years and down from typical volumes of more than 9,000 tonnes/month over the past year.Imports from Saudi Arabia held above 21,000 tonnes in March for a third month. They were still lower than usual and down from more than 28,000 tonnes in February.Imports could have been even lower if not for the continuation of some shipments to India directly via the Red Sea.Imports from the US and Saudi Arabia especially were likely to remain more volatile over the coming months.The trend increased the importance of shipments from South Korea, which held firm in March at close to 140,000 tonnes.Imports of more than 50,000 tonnes from Singapore in March were also higher than usual..India’s March lube demand mixed.India's Feb base oil supply falls, cutting surplus
India’s base oils imports fell to a five-month low in March, contrasting with a seasonal surge in the country’s lube demand.The disconnect raised the prospect of India’s base oils supply lagging demand in the month of March and the need for blenders to replenish depleted stocks over the following months.Those stocks were likely to get a boost this month amid signs of a pick-up in the arrival of shipments from South Korea and the US, as well as the arrival of another cargo from Saudi Arabia.The rise in shipments contrasted with a slump in imports from the US in March and still lower-than-usual flows of premium-grade supplies from the Mideast Gulf.Signs of growing volatility of supplies from those sources increased the importance of steady volumes from more regular sources like South Korea and Singapore.India’s total base oils imports of more than 285,000 tonnes in March fell from around 295,000 tonnes the previous month to the lowest since October, provisional customs data showed.Imports fell as shipments from the US dipped to less than 10,000 tonnes in March. They had exceeded 16,000 tonnes in each of the previous four months.Imports of less than 500 tonnes from Taiwan in March were the second lowest in almost four years and down from typical volumes of more than 9,000 tonnes/month over the past year.Imports from Saudi Arabia held above 21,000 tonnes in March for a third month. They were still lower than usual and down from more than 28,000 tonnes in February.Imports could have been even lower if not for the continuation of some shipments to India directly via the Red Sea.Imports from the US and Saudi Arabia especially were likely to remain more volatile over the coming months.The trend increased the importance of shipments from South Korea, which held firm in March at close to 140,000 tonnes.Imports of more than 50,000 tonnes from Singapore in March were also higher than usual..India’s March lube demand mixed.India's Feb base oil supply falls, cutting surplus
