Singapore’s base oils exports rose to a five-month high in January amid a pick-up in shipments to China.The rise in total exports mirrored a similar trend in South Korea and Taiwan..S Korea's Jan base oils exports rise.The rise in Singapore's shipments to China in January contrasted with a drop in exports to the country from South Korea and Taiwan.Its China-bound supplies were still much lower than its shipments to the country before the second quarter of 2022.The rise in Singapore’s base oils exports and muted Chinese demand added to a strong rebound in supply in the Asia-Pacific market at the start of the year.The rise in regional supply raised the prospect of capping the size of a recovery in base oils prices unless a revival in Chinese demand gathers pace over the coming months.Singapore’s base oils exports of 162,410t in January rose from less than 141,000t in December, government data showed..The volume rose from year-earlier levels for the first time in five months to the highest since last August.Base oils exports from Asia-Pacific producers like Singapore and South Korea fell in the fourth quarter of last year. The slowdown countered weak regional and Chinese demand and prevented any large supply-build.The prospect of a revival in Chinese demand and a seasonal rise in lube consumption in southeast Asia at the start of this year boosted the need for additional supplies.Supply duly rose.But a pick-up in Chinese demand remained muted in January.More supplies from South Korea and Taiwan moved to other markets instead..Taiwan Jan exports rise to India, SE Asia.Singapore bucked the trend. Its exports to China rose in January to a ten-month high of more than 38,900t.The rise in shipments was relative.The January volume was still down from year-earlier levels of almost 50,000t and from close to 60,000t in January 2021.The volume remained low even with Chinese blenders yet to replenish inventories ahead of the spring oil-change season.Chinese base oils demand improved in February. But this month's flow of shipments from Singapore to China showed signs of holding at levels that were similar to December and January.The trend suggested that the pick-up in Chinese demand may be smaller than expected..Asia’s December base oils supply rises
Singapore’s base oils exports rose to a five-month high in January amid a pick-up in shipments to China.The rise in total exports mirrored a similar trend in South Korea and Taiwan..S Korea's Jan base oils exports rise.The rise in Singapore's shipments to China in January contrasted with a drop in exports to the country from South Korea and Taiwan.Its China-bound supplies were still much lower than its shipments to the country before the second quarter of 2022.The rise in Singapore’s base oils exports and muted Chinese demand added to a strong rebound in supply in the Asia-Pacific market at the start of the year.The rise in regional supply raised the prospect of capping the size of a recovery in base oils prices unless a revival in Chinese demand gathers pace over the coming months.Singapore’s base oils exports of 162,410t in January rose from less than 141,000t in December, government data showed..The volume rose from year-earlier levels for the first time in five months to the highest since last August.Base oils exports from Asia-Pacific producers like Singapore and South Korea fell in the fourth quarter of last year. The slowdown countered weak regional and Chinese demand and prevented any large supply-build.The prospect of a revival in Chinese demand and a seasonal rise in lube consumption in southeast Asia at the start of this year boosted the need for additional supplies.Supply duly rose.But a pick-up in Chinese demand remained muted in January.More supplies from South Korea and Taiwan moved to other markets instead..Taiwan Jan exports rise to India, SE Asia.Singapore bucked the trend. Its exports to China rose in January to a ten-month high of more than 38,900t.The rise in shipments was relative.The January volume was still down from year-earlier levels of almost 50,000t and from close to 60,000t in January 2021.The volume remained low even with Chinese blenders yet to replenish inventories ahead of the spring oil-change season.Chinese base oils demand improved in February. But this month's flow of shipments from Singapore to China showed signs of holding at levels that were similar to December and January.The trend suggested that the pick-up in Chinese demand may be smaller than expected..Asia’s December base oils supply rises
