China Sep base oils imports up 32% from last year

30 October 2009 03:09  [Source: ICIS news]

SINGAPORE (ICIS news)--China imported 168,800 tonnes of base oils in September, up 32% from the same time last year, on improved automotive demand and industrial activity, traders said on Friday.

According to the latest trade statistics released by the Chinese government the total imports in the first nine months of 2009 stood at 1.44 million tonnes, overtaking the full year import volume of 2008 which was 1.37 million tonnes.

"A spurt in Chinese automotive production and industrial activity starting second quarter this year had boosted base oils consumption for producing lubricants," a regional base oils trader said.

"These import numbers look more normal than the historic high import volumes that China made during the second quarter, and a more normal China is good news for the region in general," a Singapore based lube blender said.

China had imported unusually high volumes of more than 220,000 tonnes/month during the second quarter of this year resulting in supply shortage of base oils across the wider Asian region.

Large base oils producers in Asia include ExxonMobil, Shell, S-Oil, SK Energy, Petronas and Nippon Oil.

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By: Anu Agarwal
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