Taiwan’s base oil exports to China rose in February to a 21-month high as buyers sought to replenish depleted stocks.Base oil exports to China rose to 36,090t in February, up from 18,860t the previous month, government data showed. Exports of 111,040t to China in the four months to February were up from 78,140t during the same period a year earlier..Base oil exports to China rose from late last year as Chinese buyers sought to replenish depleted stocks. The move followed a slump in Taiwan base oil shipments to China during the third quarter of last year.The slowdown in shipments to China in January followed a sharp slide in the country’s domestic base oil prices late last year. Signs of steadier prices this year boosted importers’ willingness to procure more supplies.Importers also anticipated a seasonal pick-up in domestic demand ahead of and during the spring oil-change season. That rise in demand typically begins from around the month of March.The rise in shipments boosted the share of China-bound exports from Taiwan to more than 75pc of its total shipments. That was the largest share since mid-2020..Taiwan’s February base oil exports rise
Taiwan’s base oil exports to China rose in February to a 21-month high as buyers sought to replenish depleted stocks.Base oil exports to China rose to 36,090t in February, up from 18,860t the previous month, government data showed. Exports of 111,040t to China in the four months to February were up from 78,140t during the same period a year earlier..Base oil exports to China rose from late last year as Chinese buyers sought to replenish depleted stocks. The move followed a slump in Taiwan base oil shipments to China during the third quarter of last year.The slowdown in shipments to China in January followed a sharp slide in the country’s domestic base oil prices late last year. Signs of steadier prices this year boosted importers’ willingness to procure more supplies.Importers also anticipated a seasonal pick-up in domestic demand ahead of and during the spring oil-change season. That rise in demand typically begins from around the month of March.The rise in shipments boosted the share of China-bound exports from Taiwan to more than 75pc of its total shipments. That was the largest share since mid-2020..Taiwan’s February base oil exports rise
