India’s base oils imports fell to a four-month low in February amid a slowdown in arbitrage shipments from the US and a dip in flows of premium-grade base oils from the Mideast Gulf.The arrival of more Group I heavy-grade supplies from Russia and Oman cushioned the slowdown in shipments of Group I base oils from markets like Thailand and China.India's total base oils imports of more than 290,000t in February fell from around 315,000t the previous month and from more than 330,000t in December, provisional customs data showed.The gradual fall in India’s imports followed a rise in buyers’ base oils inventories in recent months.Rising stocks coincided with slowing domestic lube demand.The trend curbed the incentive for buyers to procure additional supplies unless prices were at competitive levels.A widening discount of US Group II export prices to CFR India base oils prices in recent weeks duly boosted the competitiveness of supplies of US origin. The open arbitrage raised the prospect of a pick-up in arbitrage shipments from the US reaching India over the coming weeks.A rise in Group II supplies from the US would help to cover for signs of a slowdown in shipments from Saudi Arabia to India in recent weeks.The flow of Group II cargoes from Taiwan to India also showed signs of slowing in March.Ready availability and competitive prices for shipments of Russian origin supported sustained buying interest in those supplies.The shipments helped to cover for a dip in availability of Group I base oils from suppliers in Asia..Taiwan’s Feb base oils exports fall.Thailand’s January base oils output falls.US’ January base oils exports fall
India’s base oils imports fell to a four-month low in February amid a slowdown in arbitrage shipments from the US and a dip in flows of premium-grade base oils from the Mideast Gulf.The arrival of more Group I heavy-grade supplies from Russia and Oman cushioned the slowdown in shipments of Group I base oils from markets like Thailand and China.India's total base oils imports of more than 290,000t in February fell from around 315,000t the previous month and from more than 330,000t in December, provisional customs data showed.The gradual fall in India’s imports followed a rise in buyers’ base oils inventories in recent months.Rising stocks coincided with slowing domestic lube demand.The trend curbed the incentive for buyers to procure additional supplies unless prices were at competitive levels.A widening discount of US Group II export prices to CFR India base oils prices in recent weeks duly boosted the competitiveness of supplies of US origin. The open arbitrage raised the prospect of a pick-up in arbitrage shipments from the US reaching India over the coming weeks.A rise in Group II supplies from the US would help to cover for signs of a slowdown in shipments from Saudi Arabia to India in recent weeks.The flow of Group II cargoes from Taiwan to India also showed signs of slowing in March.Ready availability and competitive prices for shipments of Russian origin supported sustained buying interest in those supplies.The shipments helped to cover for a dip in availability of Group I base oils from suppliers in Asia..Taiwan’s Feb base oils exports fall.Thailand’s January base oils output falls.US’ January base oils exports fall
