India’s base oils imports rose to a four-month high in September, boosting blenders’ stocks ahead of a seasonal pick-up in demand from the end of the third quarter.Blenders will likely need to tap those stocks during the fourth quarter of the year because of a drop in base oils shipments from South Korea.India’s total imports recovered to more than 340,000 tonnes in September, provisional customs data showed.The volume rose from less than 270,000 tonnes in August to a four-month high.Imports rose mostly because of a rebound in shipments from South Korea to more than 170,000 tonnes, from less than 115,000 tonnes in July and in August.The drop in imports from South Korea in July and August compounded India’s supply shortfall in the face of a sustained rise in the country’s lube consumption.The rise in shipments from South Korea in September reversed that trend and helped to replenish blenders’ stocks.The reprieve is likely to be brief.Shipments from South Korea were set to fall again in the fourth quarter of the year because of maintenance work at a key base oils plant in the country.South Korea is India’s largest overseas base oils supplier.The base oils refiner with the plant shutdown is South Korea’s largest supplier of shipments to India.The prospect of firm demand in the fourth quarter and a drop in shipments from South Korea increased pressure on India’s domestic refiners to maintain higher base oils output.It also put pressure on the country’s blenders to line up additional supplies from other sources.India is likely to take delivery of more supplies from Taiwan in October.But import volumes are unlikely to rise significantly from shipments of more than 15,000 tonnes from Taiwan in August and in September.Imports from Saudi Arabia came to more than 25,000 tonnes in September.The volume remained in a relatively narrow 21,000-28,000 tonne/month range for most of the past nine months. The steady flows suggested there was little likelihood of a sharp pick-up in shipments from that country in the fourth quarter.Imports from the US held at less than 10,000 tonnes in September for a third month, with naphthenic base oils accounting for a large portion of the volume.There were so far few signs of a significant pick-up in arbitrage flows from the US to India in the fourth quarter..South Korea’s Sept base oils exports fall.Taiwan’s Sept base oils exports fall.India’s September lube demand rises
India’s base oils imports rose to a four-month high in September, boosting blenders’ stocks ahead of a seasonal pick-up in demand from the end of the third quarter.Blenders will likely need to tap those stocks during the fourth quarter of the year because of a drop in base oils shipments from South Korea.India’s total imports recovered to more than 340,000 tonnes in September, provisional customs data showed.The volume rose from less than 270,000 tonnes in August to a four-month high.Imports rose mostly because of a rebound in shipments from South Korea to more than 170,000 tonnes, from less than 115,000 tonnes in July and in August.The drop in imports from South Korea in July and August compounded India’s supply shortfall in the face of a sustained rise in the country’s lube consumption.The rise in shipments from South Korea in September reversed that trend and helped to replenish blenders’ stocks.The reprieve is likely to be brief.Shipments from South Korea were set to fall again in the fourth quarter of the year because of maintenance work at a key base oils plant in the country.South Korea is India’s largest overseas base oils supplier.The base oils refiner with the plant shutdown is South Korea’s largest supplier of shipments to India.The prospect of firm demand in the fourth quarter and a drop in shipments from South Korea increased pressure on India’s domestic refiners to maintain higher base oils output.It also put pressure on the country’s blenders to line up additional supplies from other sources.India is likely to take delivery of more supplies from Taiwan in October.But import volumes are unlikely to rise significantly from shipments of more than 15,000 tonnes from Taiwan in August and in September.Imports from Saudi Arabia came to more than 25,000 tonnes in September.The volume remained in a relatively narrow 21,000-28,000 tonne/month range for most of the past nine months. The steady flows suggested there was little likelihood of a sharp pick-up in shipments from that country in the fourth quarter.Imports from the US held at less than 10,000 tonnes in September for a third month, with naphthenic base oils accounting for a large portion of the volume.There were so far few signs of a significant pick-up in arbitrage flows from the US to India in the fourth quarter..South Korea’s Sept base oils exports fall.Taiwan’s Sept base oils exports fall.India’s September lube demand rises
