Taiwan's FPCC to raise base oil exports to China by 13% in June

08 June 2012 07:39  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan-based Formosa Petrochemical Corp (FPCC) plans to supply about 18,000 tonnes of Group II base oils to China in June, an increase of about 13% from a month ago, a company source said on Friday.

The supply will all be contract cargoes, including part of delayed cargoes from May, the source said.

However, the volume of spot cargoes has not been finalised, the source said, adding that Chinese traders were not keen to buy either.

The supply is still lower than the average level of FPCC exports to China, because of weak demand from lubricant producers and ample supplies in China, market sources said.

FPCC plans to increase its global supply of Group II base oils to around 70,000 tonnes in June, consisting largely delayed cargoes from April and May, the company source added.

By: Whitney Shi
+65 6780 4359

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