Baltic Sea base oil export prices rise $30-35/tonne

21 August 2012 23:59  [Source: ICIS news]

LONDON (ICIS)--Baltic Sea base oil export prices have climbed $30-35/tonne (€24-28/tonne) this week on higher replacement costs and lower availability, market sources said on Tuesday.

Recent upstream price rises have seen suppliers demand higher base oil sale prices.

In addition, certain suppliers have more comfortable inventory levels after recent spot sales. Both factors combined have supported upwards price movement this week.

“There is not that much availability,” said a trader. “Refineries are asking for a premium for certain grades.”

Last week, price indications ranged from $910-945/tonne FOB (free on board) Baltic Sea for solvent neutral (SN)150 and SN500.

This week, a trader said it had booked 1,000 tonnes of SN150 and SN500 at a price equivalent to $950/tonne FOB.

Some offers were in excess of $1,000/tonne FOB this week.

Baltic Sea SN150 and SN500 prices were both assessed up by $30-35/tonne to $945-975/tonne FOB Baltic Sea by ICIS.

($1 = €0.81)

By: Carl Roache
+44 20 8652 3214

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