Taiwan’s base oils exports fell to a seven-month low in September as a slump in shipments to China and southeast Asia outweighed a pick-up in flows to India.Total exports of 26,800 tonnes in September fell from close to 50,000 tonnes the previous month and by 35% from year-earlier levels, government data showed.Exports of 11,900 tonnes to China in September fell from more than 24,000 tonnes in August to a three-month low.The slowdown followed a jump in China’s domestic Group II base oils output in September to a six-month high.China’s higher base oils output and the drop in shipments from Taiwan pointed to waning requirements for additional shipments from other markets in Asia. Taiwan’s base oils exports to southeast Asia also fell in September, with shipments dipping to less than 3,000 tonnes.The volume fell from more than 17,500 tonnes in each of the previous three months to the lowest in almost two years.The drop in shipments followed higher-than-usual base oils exports from Asia-Pacific refiners to buyers in southeast Asia in July and August.The rise in shipments coincided with weaker lube demand in the region, curbing blenders’ urgency to replenish healthy inventory levels.Taiwan’s base oils exports to India by contrast rebounded to more than 12,000 tonnes in September, after shipments almost paused the previous month.There were signs of another large shipment being lined up to move to India this month.The pick-up in exports to India coincided with the start of scheduled plant maintenance work in South Korea in September.The maintenance work was expected to impact the northeast Asian country’s base oils exports at least during the months of September and October.South Korea is India’s largest overseas base oils supplier.The prospect of lower shipments from South Korea added to the attraction and need for buyers in India to lock in additional supplies from sources like Taiwan..Asia’s August lube demand falls.China’s Sept base oils output rises
Taiwan’s base oils exports fell to a seven-month low in September as a slump in shipments to China and southeast Asia outweighed a pick-up in flows to India.Total exports of 26,800 tonnes in September fell from close to 50,000 tonnes the previous month and by 35% from year-earlier levels, government data showed.Exports of 11,900 tonnes to China in September fell from more than 24,000 tonnes in August to a three-month low.The slowdown followed a jump in China’s domestic Group II base oils output in September to a six-month high.China’s higher base oils output and the drop in shipments from Taiwan pointed to waning requirements for additional shipments from other markets in Asia. Taiwan’s base oils exports to southeast Asia also fell in September, with shipments dipping to less than 3,000 tonnes.The volume fell from more than 17,500 tonnes in each of the previous three months to the lowest in almost two years.The drop in shipments followed higher-than-usual base oils exports from Asia-Pacific refiners to buyers in southeast Asia in July and August.The rise in shipments coincided with weaker lube demand in the region, curbing blenders’ urgency to replenish healthy inventory levels.Taiwan’s base oils exports to India by contrast rebounded to more than 12,000 tonnes in September, after shipments almost paused the previous month.There were signs of another large shipment being lined up to move to India this month.The pick-up in exports to India coincided with the start of scheduled plant maintenance work in South Korea in September.The maintenance work was expected to impact the northeast Asian country’s base oils exports at least during the months of September and October.South Korea is India’s largest overseas base oils supplier.The prospect of lower shipments from South Korea added to the attraction and need for buyers in India to lock in additional supplies from sources like Taiwan..Asia’s August lube demand falls.China’s Sept base oils output rises
