China’s base oils demand rebounded to a one-year high in March on the back of higher domestic production and surging imports.The rise in demand pointed to a pick-up in domestic lubricants consumption, which is deemed a signal for the state of economic activity.The recovery was relative – consumption remained below levels before the imposition of stringent lockdowns in China from March 2022.Notional base oils demand, or output plus net imports, rose to more than 571,000t in March, government and industry data showed.The volume surged from around 434,000t in February. It remained 12pc below year-earlier levels of 646,000t and down 31pc from 830,000t in March 2021..Insight: China’s March base oils output stays low
China’s base oils demand rebounded to a one-year high in March on the back of higher domestic production and surging imports.The rise in demand pointed to a pick-up in domestic lubricants consumption, which is deemed a signal for the state of economic activity.The recovery was relative – consumption remained below levels before the imposition of stringent lockdowns in China from March 2022.Notional base oils demand, or output plus net imports, rose to more than 571,000t in March, government and industry data showed.The volume surged from around 434,000t in February. It remained 12pc below year-earlier levels of 646,000t and down 31pc from 830,000t in March 2021..Insight: China’s March base oils output stays low
