Asia’s base oils exports rose in October as a surge in shipments from South Korea outweighed a fall in supplies from Taiwan and Japan.Total exports of close to 680,000t in October rose from less than 640,000t the previous month and by 10pc from year-earlier levels, government data showed.Even with the rise in shipments, total exports of 6.69mn t in the first ten months of the year were still down 3pc from year-earlier levels of 6.88mn t.The region’s base oils exports surged in the third quarter of 2022 as refiners sought to clear a growing overhang of surplus supplies from the region.More balanced supply in the third quarter of this year curbed the need for such a move.Exports still rose in October even with more balanced supply-demand fundamentals and the shutdown of a key base oils plant in Taiwan for maintenance work.The higher volumes instead reflected a surge in shipments from South Korea to an eight-month high..S Korea’s Oct base oils exports rise.Taiwan’s Oct base oils exports fall
Asia’s base oils exports rose in October as a surge in shipments from South Korea outweighed a fall in supplies from Taiwan and Japan.Total exports of close to 680,000t in October rose from less than 640,000t the previous month and by 10pc from year-earlier levels, government data showed.Even with the rise in shipments, total exports of 6.69mn t in the first ten months of the year were still down 3pc from year-earlier levels of 6.88mn t.The region’s base oils exports surged in the third quarter of 2022 as refiners sought to clear a growing overhang of surplus supplies from the region.More balanced supply in the third quarter of this year curbed the need for such a move.Exports still rose in October even with more balanced supply-demand fundamentals and the shutdown of a key base oils plant in Taiwan for maintenance work.The higher volumes instead reflected a surge in shipments from South Korea to an eight-month high..S Korea’s Oct base oils exports rise.Taiwan’s Oct base oils exports fall
