Singapore base oils exports rise 25% in April on China demand

18 May 2010 07:26  [Source: ICIS news]

SINGAPORE (ICIS news)--Singapore exports of base oils during April rose to around 246,000 tonnes, up 25.7% from March on continued strong demand from the key China market, according to latest trade statistics released by IE Singapore on Tuesday.

The export volumes for March were 195,700 tonnes, while figures for the first four months of the year, stood at 701,000 tonnes.

Most of the exports in April were headed to China, which accounted for 126,000 tonnes, while India imported 25,000 tonnes and Indonesia bought around 18,000 tonnes.

Base oils imports into Singapore in April totalled 91,000 tonnes, up 19% from March figures.

Key sources of imports were the USA with 30,000 tonnes and Korea with 20,000 tonnes. Total imports for the first four months stood at 278,000 tonnes.

While China imported large volumes of base oils during April, there might be a slowdown in buying activity there with crude values plunging from $85/bbl (€69/bbl) in early May to $70.5/bbl, traders said.

($1 = €0.81)

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By: Anu Agarwal
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