Singapore’s base oils exports to southeast Asia climbed to a seven-month high in February even as its shipments to China also rose.The simultaneous rise in shipments to both markets suggested the island-state’s supply was sufficient to cover requirements in both places.A recovery in Chinese demand had raised concern about rising competition for the island-state’s supplies.Rangebound base oils prices in China’s domestic market and in Asia-Pacific in recent weeks pointed to relatively balanced supply-demand dynamics.Singapore’s shipments to southeast Asia rose even more sharply than its exports to China. The volume was also substantially higher.The dynamic pointed to firm demand throughout the region and curbed any over-reliance on a recovery in demand in China.That recovery has been gradual rather than sharp.China’s own large domestic base oils production capacity raised uncertainty about the size of its requirements for overseas supplies in the coming months even as demand revived.South Korea’s base oils exports showed a similar trend in February, with rising shipments to China as well as to southeast Asia..S. Korea's Feb exports to SE Asia rise.Singapore’s base oils exports of more than 70,000t to southeast Asia in February rose from little more than 55,000t the previous month, government data showed.The volume was the highest since last July..Exports of more than 37,000t to Indonesia in February were the highest in more than five years.Singapore’s base oils exports to southeast Asia continued to hold firm through the month of March.Its shipments to China rose even more strongly to levels that exceeded the flow of supplies to southeast Asia.The rise in shipments to both markets in recent weeks, and especially to China, pointed to a structural change in supply such as a rise in refinery run rates.Any such move would have taken place at around the same time as plant maintenance work in Singapore that was scheduled to take place in the month of March..Spore’s February base oils exports rise
Singapore’s base oils exports to southeast Asia climbed to a seven-month high in February even as its shipments to China also rose.The simultaneous rise in shipments to both markets suggested the island-state’s supply was sufficient to cover requirements in both places.A recovery in Chinese demand had raised concern about rising competition for the island-state’s supplies.Rangebound base oils prices in China’s domestic market and in Asia-Pacific in recent weeks pointed to relatively balanced supply-demand dynamics.Singapore’s shipments to southeast Asia rose even more sharply than its exports to China. The volume was also substantially higher.The dynamic pointed to firm demand throughout the region and curbed any over-reliance on a recovery in demand in China.That recovery has been gradual rather than sharp.China’s own large domestic base oils production capacity raised uncertainty about the size of its requirements for overseas supplies in the coming months even as demand revived.South Korea’s base oils exports showed a similar trend in February, with rising shipments to China as well as to southeast Asia..S. Korea's Feb exports to SE Asia rise.Singapore’s base oils exports of more than 70,000t to southeast Asia in February rose from little more than 55,000t the previous month, government data showed.The volume was the highest since last July..Exports of more than 37,000t to Indonesia in February were the highest in more than five years.Singapore’s base oils exports to southeast Asia continued to hold firm through the month of March.Its shipments to China rose even more strongly to levels that exceeded the flow of supplies to southeast Asia.The rise in shipments to both markets in recent weeks, and especially to China, pointed to a structural change in supply such as a rise in refinery run rates.Any such move would have taken place at around the same time as plant maintenance work in Singapore that was scheduled to take place in the month of March..Spore’s February base oils exports rise
