03 August 2012 09:39 [Source: ICIS news]
The producers cut its offers as it redirected more volumes to
The company is planning to export about 12,530 tonnes of Group I base oils to
The volumes were produced by the company’s 250,000 tonne/year
Low-viscosity grades were offered unchanged at $870/tonne on a DAF (delivered at frontier) Erenhot basis for August, the source said.
However, prices of imported Group I base oils from Russia are expected to rise this month in the Chinese market as lubricant producers may restock in preparation for the peak consumption season in September, many China-based traders said.
Chinese lubricant producers will switch to producing low-viscosity base oils during the colder September-December period.
($1 = €0.82)
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