China’s base oil imports slipped in February from the previous amid a slowdown in supplies from northeast and southeast Asia..Base oil imports of 205,420t in February fell from 238,900t the previous month. The January volume had been the highest in nine months..Total imports of 444,310t in the first two months of the year were similar to year-earlier levels of 440,080t. They were also up sharply from 334,990t during the last two months of 2021.China’s base oil imports typically rise in the first few months of each year as blenders replenish stocks ahead of the spring oil-change season.Those moves to replenish stocks have sometimes begun during the last few months of the previous year. Any such plans were put on hold this time round amid an ongoing slide in Group I and Group II base oil prices in China during the fourth quarter of last year.Steadier prices this year have eased buyers’ concern about exposure to lower prices. Tightening inventories of products like Group I bright stock and light-grade supplies from Taiwan added to a pick-up in demand.But the size of the rise in demand remains muted compared with previous years.The total volume of imports in the first two months of the year remained some 11pc lower than pre-pandemic levels of 492,830t during the same period in 2019. .Thailand’s January base oil exports fall
China’s base oil imports slipped in February from the previous amid a slowdown in supplies from northeast and southeast Asia..Base oil imports of 205,420t in February fell from 238,900t the previous month. The January volume had been the highest in nine months..Total imports of 444,310t in the first two months of the year were similar to year-earlier levels of 440,080t. They were also up sharply from 334,990t during the last two months of 2021.China’s base oil imports typically rise in the first few months of each year as blenders replenish stocks ahead of the spring oil-change season.Those moves to replenish stocks have sometimes begun during the last few months of the previous year. Any such plans were put on hold this time round amid an ongoing slide in Group I and Group II base oil prices in China during the fourth quarter of last year.Steadier prices this year have eased buyers’ concern about exposure to lower prices. Tightening inventories of products like Group I bright stock and light-grade supplies from Taiwan added to a pick-up in demand.But the size of the rise in demand remains muted compared with previous years.The total volume of imports in the first two months of the year remained some 11pc lower than pre-pandemic levels of 492,830t during the same period in 2019. .Thailand’s January base oil exports fall
