India’s lube demand rose in March to the highest in a year on the back of a seasonal surge in consumption before financial year-end.The volume still fell from year-earlier levels for a third month.Lube demand of 416,000 tonnes in March rose from 331,000 tonnes the previous month, government data showed.Blenders typically seek to boost sales in the month of March in order to meet or exceed their annual sales targets.Lube consumption fell by 5% from 437,000 tonnes during the same month a year earlier.The lower consumption from year-earlier levels contrasted with the country's mostly-firm economic and industrial activity and expectations that the growth will remain strong.Growth in India’s eight core industries rose in February at its fastest pace in three months.The country’s manufacturers saw improved demand conditions and higher capacity utilization in the three months to end-March, according to an industrial outlook survey by India’s central bank.There were also some pockets of weaker activity.Passenger-car sales fell in March for the first time in five months.High interest rates and weaker consumer sentiment among urban Indians could continue to dampen passenger vehicle demand over the coming months, according to the Federation of Automobile Dealers Associations.India’s lube consumption in March still likely exceeded the country’s base oils supply that month.Such a scenario would cut domestic blenders’ inventories and raise the prospect of moves to replenish stocks over the coming months.A large volume of base oils shipments from sources like South Korea and the US was expected to reach India in April. The arrival of those shipments would boost stocks at the same time as domestic lube demand reverts to more typical levels..India's Feb base oil supply falls, cutting surplus
India’s lube demand rose in March to the highest in a year on the back of a seasonal surge in consumption before financial year-end.The volume still fell from year-earlier levels for a third month.Lube demand of 416,000 tonnes in March rose from 331,000 tonnes the previous month, government data showed.Blenders typically seek to boost sales in the month of March in order to meet or exceed their annual sales targets.Lube consumption fell by 5% from 437,000 tonnes during the same month a year earlier.The lower consumption from year-earlier levels contrasted with the country's mostly-firm economic and industrial activity and expectations that the growth will remain strong.Growth in India’s eight core industries rose in February at its fastest pace in three months.The country’s manufacturers saw improved demand conditions and higher capacity utilization in the three months to end-March, according to an industrial outlook survey by India’s central bank.There were also some pockets of weaker activity.Passenger-car sales fell in March for the first time in five months.High interest rates and weaker consumer sentiment among urban Indians could continue to dampen passenger vehicle demand over the coming months, according to the Federation of Automobile Dealers Associations.India’s lube consumption in March still likely exceeded the country’s base oils supply that month.Such a scenario would cut domestic blenders’ inventories and raise the prospect of moves to replenish stocks over the coming months.A large volume of base oils shipments from sources like South Korea and the US was expected to reach India in April. The arrival of those shipments would boost stocks at the same time as domestic lube demand reverts to more typical levels..India's Feb base oil supply falls, cutting surplus
