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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections