China’s Shandong Qisheng Industry halts Group I base oil supply

27 July 2012 09:59  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Shandong Qisheng Industry & Trade has halted the supply of Group I base oils because of a shutdown at its 70,000 tonne/year plant at Zibo in Shandong province, a company source said on Friday.

The plant was shut on 23 July for 15 days of maintenance, the source added.

The prices of on-spec Group I base oils in eastern China’s Shandong are expected to firm in August because of the suspension of supply from the two sole suppliers in the region, market sources said.

Group I base oil supplier Sinopec Jinan shut its 100,000 tonne/year Group I base oils plant since late January for an expansion and expects to resume supply in September, a Sinopec source said.

Group I base oils were traded at yuan (CNY) 8,350-8,500/tonne ($1,307-1,330/tonne) on 27 July in Shandong, unchanged week on week, traders said.

Shandong Qisheng mainly produces SN40, SN60, SN150, SN250 and SN350 Group I base oils.

($1 = CNY6.39)

By: Whitney Shi
+65 6780 4359

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