07 February 2012 06:55 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan-based CPC-Shell Lubricant is planning to supply 3,000-4,000 tonnes of spot Group I base oils to China in February, an increase of about 33% from January, a company source said on Tuesday.
Most of the supply will consist of Group I BS150 and include some SN150 as well as SN250, the source said, adding that the producer will export all its SN500 spot cargoes to southeast Asia.
In addition, CPC-Shell is planning to raise its February prices of Group I SN150, SN250 and BS150 to China by $10-20/tonne (€8-15/tonne) in view of its rising production costs, which are due to the prevailing firm crude prices, the source added.
The producer will likely implement the price hike by next week, according to the source.
It supplied China with 7,000 tonnes of Group I base oils in January, 2,000-3,000 tonnes of which were spot cargoes.
CPC-Shell Lubricant is a joint venture between Taiwan’s CPC Corp and Shell. It mainly produces the base oil grades P70, SN150, SN250, SN500 and BS150.
($1 = €0.76)
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