Italy’s lube consumption rose in July for the first time in three months, extending a period of uneven demand growth in Europe so far this year.The more volatile demand pointed to consumption bottoming out in some markets even as the region’s total demand continued to slide.The lack of any sustained growth trend even in markets like Italy complicated blenders’ production plans and incentivized them to maintain lower inventories in response.Italy’s lube consumption of 34,700 tonnes in July rose from 31,700 tonnes in June and by 1% from year-earlier levels, government data showed.Demand for automobile lubricants extended its strong rise, countering a sustained contraction in industrial oils consumption.Italy’s lube demand growth trends are a useful bellwether for the state of Europe’s lube market, whose consumption data tends to be released several weeks or months after Italy.The rise in Italy’s lube demand in July from a year-earlier followed a drop in consumption in May and in June.Lube consumption in other markets like Spain and Portugal also fell in June after rising throughout most of the previous year.Even with the more uneven demand trends, lubricants demand in those markets remained much firmer than in Germany, whose consumption extended its steep slide in the first five months of the year.The varying demand dynamics and Europe's healthy availability of base oils supplies incentivized blenders to maintain lower inventories heading into the third quarter of the year.The prospect of a sharp seasonal slowdown in lube consumption in the month of August added to that incentive.Italy’s lube demand fell by more than 30% in the month of August from July in each of the previous eight years.Spain’s lube demand fell by more than 20% in August from July during the same period..Italy’s June lube demand falls.France, Spain May lube demand mixed
Italy’s lube consumption rose in July for the first time in three months, extending a period of uneven demand growth in Europe so far this year.The more volatile demand pointed to consumption bottoming out in some markets even as the region’s total demand continued to slide.The lack of any sustained growth trend even in markets like Italy complicated blenders’ production plans and incentivized them to maintain lower inventories in response.Italy’s lube consumption of 34,700 tonnes in July rose from 31,700 tonnes in June and by 1% from year-earlier levels, government data showed.Demand for automobile lubricants extended its strong rise, countering a sustained contraction in industrial oils consumption.Italy’s lube demand growth trends are a useful bellwether for the state of Europe’s lube market, whose consumption data tends to be released several weeks or months after Italy.The rise in Italy’s lube demand in July from a year-earlier followed a drop in consumption in May and in June.Lube consumption in other markets like Spain and Portugal also fell in June after rising throughout most of the previous year.Even with the more uneven demand trends, lubricants demand in those markets remained much firmer than in Germany, whose consumption extended its steep slide in the first five months of the year.The varying demand dynamics and Europe's healthy availability of base oils supplies incentivized blenders to maintain lower inventories heading into the third quarter of the year.The prospect of a sharp seasonal slowdown in lube consumption in the month of August added to that incentive.Italy’s lube demand fell by more than 30% in the month of August from July in each of the previous eight years.Spain’s lube demand fell by more than 20% in August from July during the same period..Italy’s June lube demand falls.France, Spain May lube demand mixed
