South Korea’s base oils exports to India fell in September to the lowest in more than a year, putting pressure on buyers in that market to line up more supplies from other sources instead.Base oils exports of 55,500 tonnes to India in September fell from more than 115,000 tonnes in August to a fourteen-month low, government data showed.The jump in shipments in August gave India’s buyers the opportunity to replenish stocks ahead of plant maintenance work in South Korea that began in September.India’s base oils imports duly recovered to a four-month high in September mostly because of a rebound in shipments from South Korea.The slump in South Korea’s base oils exports in September reflected the impact of the maintenance work.It raised the prospect of a subsequent fall in India’s base oils imports this month and the need for the country’s blenders to tap their inventories in response.Those inventories could be lower than planned because of a drop in India’s base oils imports in the three months to August, combined with persistently firm lube consumption in recent months.Relatively lower stocks, lower imports from South Korea and a seasonal pick-up in demand in the fourth quarter of the year could in turn boost Indian buyers’ demand for supplies from other sources.South Korea’s base oils exports to the Middle East also fell in September, but less sharply.Exports of 20,200 tonnes to the region fell from more than 31,000 tonnes in August but was close to typical levels of almost 23,000 tonnes/month in the first seven months of the year.The steadier flow of shipments kept buyers’ inventories at more comfortable levels, giving them more leverage to hold back in the face of unusually volatile feedstock prices in recent weeks..South Korea’s Sept base oils exports fall.India’s September base oils imports rise.India’s September lube demand rises
South Korea’s base oils exports to India fell in September to the lowest in more than a year, putting pressure on buyers in that market to line up more supplies from other sources instead.Base oils exports of 55,500 tonnes to India in September fell from more than 115,000 tonnes in August to a fourteen-month low, government data showed.The jump in shipments in August gave India’s buyers the opportunity to replenish stocks ahead of plant maintenance work in South Korea that began in September.India’s base oils imports duly recovered to a four-month high in September mostly because of a rebound in shipments from South Korea.The slump in South Korea’s base oils exports in September reflected the impact of the maintenance work.It raised the prospect of a subsequent fall in India’s base oils imports this month and the need for the country’s blenders to tap their inventories in response.Those inventories could be lower than planned because of a drop in India’s base oils imports in the three months to August, combined with persistently firm lube consumption in recent months.Relatively lower stocks, lower imports from South Korea and a seasonal pick-up in demand in the fourth quarter of the year could in turn boost Indian buyers’ demand for supplies from other sources.South Korea’s base oils exports to the Middle East also fell in September, but less sharply.Exports of 20,200 tonnes to the region fell from more than 31,000 tonnes in August but was close to typical levels of almost 23,000 tonnes/month in the first seven months of the year.The steadier flow of shipments kept buyers’ inventories at more comfortable levels, giving them more leverage to hold back in the face of unusually volatile feedstock prices in recent weeks..South Korea’s Sept base oils exports fall.India’s September base oils imports rise.India’s September lube demand rises