India’s imports of Group III 4cst and 8cst base oils extended their strong surge in November, reflecting the country’s rising domestic consumption of increasingly high-quality lubricants.Total imports of Group III 4cst base oils rose to more than 28,000t in November, provisional customs data showed.The volume rose from year-earlier levels for the sixth month in seven to the highest in at least three years.Imports of more than 174,000t in the first eleven months of the year were up more than 50pc from year-earlier levels of around 111,000t.India’s lube demand rose by 3pc in the first eleven months of the year. The rise in demand magnified the country’s growing consumption of higher-quality lubricants and the feedstock needed to produce those lubricants.Imports of Group III 8cst base oils rose to a seven-month high of close to 14,000t in November.Total imports of less than 100,000t in the first eleven months of the year still fell from more than 200,000t during the same period last year.The slump in shipments reflected waning demand for supplies of 8cst base oils as a substitute for heavy-grade base oils.More competitive prices for Group II heavy grades compared with 8cst base oils boosted the attraction of procuring more of the Group II supplies instead.India previously provided a valuable outlet for overseas refiners to clear surplus supplies of Group III 8cst base oils.The country’s shrinking demand for the product left overseas refiners needing to find other outlets instead..India’s Nov base oils imports rise.India’s November Group II imports rise
