Russia’s Rosneft cuts low-viscosity base oil prices to China in April

11 April 2012 07:33  [Source: ICIS news]

SINGAPORE (ICIS)--Russia’s Rosneft has reduced the prices of its low-viscosity Group I base oils for delivery to China in April by $50/tonne (€38/tonne) because of weak demand, a Chinese importer said on Wednesday.

The prices of Rosneft’s low-viscosity products are at $1,070-1,080/tonne DAF (delivery at frontier) Erenhot in April from $1,120-1,130/tonne in March, the importer said.

However, the prices of its high-viscosity Group I base oils were increased by $10/tonne month on month to $1,170-1,180/tonne in April, the importer added.

The Russian supplier reduced its Group I base oil exports to China to about 7,000 tonnes in April from 8,700 tonnes in March because of weak demand and high inventory levels in China, market sources said.

($1 = €0.76)

By: Whitney Shi
+65 6780 4359

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