Argentina’s lube demand fell for an eleventh month in September in the face of a sustained slide in the country’s economic activity.The contraction raised the prospect of deepening a seasonal slowdown in Latin America’s lube consumption during the final months of the year.Argentina’s lube demand of 18,700 cubic meters (16,600 tonnes) in September fell from 20,300 cubic meters the previous month and by 15% from year-earlier levels, government data showed.The pace of the contraction was the fastest since April and exceeded a 6% fall in the country’s lubricants production in September. Lubricants production also fell more slowly than lube consumption in August amid signs the country’s blenders were working down their base oils stocks.Such a move would trim their surplus base oils supplies ahead of a typical slowdown in lube consumption in the fourth quarter of the year.It would also allow them to replenish stocks later this year or early next year, when global base oils prices usually face downward pressure from a typical overhang of supplies.Moves to replenish stocks around that time would also coincide with an expected improvement in Argentina’s economic activity.The ongoing slide in lube consumption in September added to signs that any such improvement has yet to begin.Automobile lube sales fell by 13% in September and industrial oils sales by 20%.The contraction mirrored a 13% dip in the country’s automobile production in September, while industrial production shrank in August for a fifteenth month..Brazil’s September lube demand rises.Latam’s August lube demand falls
Argentina’s lube demand fell for an eleventh month in September in the face of a sustained slide in the country’s economic activity.The contraction raised the prospect of deepening a seasonal slowdown in Latin America’s lube consumption during the final months of the year.Argentina’s lube demand of 18,700 cubic meters (16,600 tonnes) in September fell from 20,300 cubic meters the previous month and by 15% from year-earlier levels, government data showed.The pace of the contraction was the fastest since April and exceeded a 6% fall in the country’s lubricants production in September. Lubricants production also fell more slowly than lube consumption in August amid signs the country’s blenders were working down their base oils stocks.Such a move would trim their surplus base oils supplies ahead of a typical slowdown in lube consumption in the fourth quarter of the year.It would also allow them to replenish stocks later this year or early next year, when global base oils prices usually face downward pressure from a typical overhang of supplies.Moves to replenish stocks around that time would also coincide with an expected improvement in Argentina’s economic activity.The ongoing slide in lube consumption in September added to signs that any such improvement has yet to begin.Automobile lube sales fell by 13% in September and industrial oils sales by 20%.The contraction mirrored a 13% dip in the country’s automobile production in September, while industrial production shrank in August for a fifteenth month..Brazil’s September lube demand rises.Latam’s August lube demand falls
