South Korea’s base oils exports to the US fell to a three-month low in September following an unusual surge in shipments the previous month.Exports of 37,500 tonnes to the US in September fell from close to 83,000 tonnes in August, government data showed.The September volume was down less sharply compared with typical shipments of around 41,500 tonnes/month to the US in the first seven months of the year.The relatively steady flows contrasted with the steep slide in South Korea's total exports to less than 238,000 tonnes in September. The volume was down from average levels of close to 350,000 tonnes/month in the first seven months of the year.The higher export volume to the US in August helped to boost buyers’ stocks ahead of the start of plant maintenance work in South Korea in September.Most of South Korea’s exports to the US consist of Group III base oils. The maintenance work in South Korea involved a Group II unit.The surge in exports in August followed by the dip in September suggested that the maintenance work still had a major impact on shipments to the US.The drop in exports in September could still have a more muted impact in the US amid signs that a relatively similar volume of supplies from South Korea were set to reach the country in each of the three months to November.The supplies were set to reach the country at a time of year when already-weak US demand faced a seasonal slowdown ahead of and during the winter months.South Korea’s base oils exports to the Americas in September also included a 4,200-tonne cargo bound for Brazil.The shipment was the third such large cargo bound for Brazil in the last four months to September.The pick-up in flows to the South American country coincided with a more workable arbitrage to move shipments from Asia to the Americas during the third quarter of the year.Those flows could now dwindle after the fall in US base oils prices since early September made the arbitrage less feasible.South Korea’s base oils exports to Netherlands and Belgium combined fell to a ten-month low of 6,000 tonnes in September.The slowdown in shipments coincided with maintenance work on a Group III unit in Spain from the end of the third quarter of the year.The fall in shipments and drop in regional output raised the prospect of tightening Europe’s Group III base oils supply at the start of the fourth quarter of the year..South Korea’s Sept base oils exports fall.S Korea's Sept exports to India fall.US’ Aug base oils imports mixed
South Korea’s base oils exports to the US fell to a three-month low in September following an unusual surge in shipments the previous month.Exports of 37,500 tonnes to the US in September fell from close to 83,000 tonnes in August, government data showed.The September volume was down less sharply compared with typical shipments of around 41,500 tonnes/month to the US in the first seven months of the year.The relatively steady flows contrasted with the steep slide in South Korea's total exports to less than 238,000 tonnes in September. The volume was down from average levels of close to 350,000 tonnes/month in the first seven months of the year.The higher export volume to the US in August helped to boost buyers’ stocks ahead of the start of plant maintenance work in South Korea in September.Most of South Korea’s exports to the US consist of Group III base oils. The maintenance work in South Korea involved a Group II unit.The surge in exports in August followed by the dip in September suggested that the maintenance work still had a major impact on shipments to the US.The drop in exports in September could still have a more muted impact in the US amid signs that a relatively similar volume of supplies from South Korea were set to reach the country in each of the three months to November.The supplies were set to reach the country at a time of year when already-weak US demand faced a seasonal slowdown ahead of and during the winter months.South Korea’s base oils exports to the Americas in September also included a 4,200-tonne cargo bound for Brazil.The shipment was the third such large cargo bound for Brazil in the last four months to September.The pick-up in flows to the South American country coincided with a more workable arbitrage to move shipments from Asia to the Americas during the third quarter of the year.Those flows could now dwindle after the fall in US base oils prices since early September made the arbitrage less feasible.South Korea’s base oils exports to Netherlands and Belgium combined fell to a ten-month low of 6,000 tonnes in September.The slowdown in shipments coincided with maintenance work on a Group III unit in Spain from the end of the third quarter of the year.The fall in shipments and drop in regional output raised the prospect of tightening Europe’s Group III base oils supply at the start of the fourth quarter of the year..South Korea’s Sept base oils exports fall.S Korea's Sept exports to India fall.US’ Aug base oils imports mixed