Taiwan’s base oils exports fell to a one-year low in July in the face of weak Chinese demand and logistical delays because of a storm.Base oils exports of 22,110t in July fell from 28,410t the previous month, government data showed.The volume was down from typical levels of almost 42,000 t/month over the past year and closer to 50,000 t/month in the first quarter of 2023.The fall in shipments since the first few months of the year mirrored a slowdown in China’s economic recovery, and then increasingly weak base oils prices from May.Exports of 11,870t to China in July rose from an eleven-month low of 5,950t in June. The July volume was still unusually small and the second lowest since September 2022..Global base oils - week of Aug 14: Cargo flows
Taiwan’s base oils exports fell to a one-year low in July in the face of weak Chinese demand and logistical delays because of a storm.Base oils exports of 22,110t in July fell from 28,410t the previous month, government data showed.The volume was down from typical levels of almost 42,000 t/month over the past year and closer to 50,000 t/month in the first quarter of 2023.The fall in shipments since the first few months of the year mirrored a slowdown in China’s economic recovery, and then increasingly weak base oils prices from May.Exports of 11,870t to China in July rose from an eleven-month low of 5,950t in June. The July volume was still unusually small and the second lowest since September 2022..Global base oils - week of Aug 14: Cargo flows