Russia’s Rosneft hikes Oct base oils offers to China by $10-40/t

09 October 2012 10:11  [Source: ICIS news]

SINGAPORE (ICIS)--Russia’s Rosneft has again raised its offers for October cargoes of Group I base oils to China by $10-40/tonne  (€8-31/tonne) from September, a China-based trader said on Tuesday.

Prices of low-viscosity base oils for October were increased by $30-40/tonne to $970-980/tonne on a DAF (delivered-at-frontier) Erenhot basis, while those of high-viscosity volumes were nudged up by $10/tonne to $1,030-1,060/tonne, the source said.

Base oils supply in China remained tight this month, while trading had been robust in late September, Chinese traders said.

Rosneft is supplying 3,410 tonnes of base oils to China in October, down by almost 15% from the previous month as one of its plants in Angarsk, Russia, is currently shut and will not restart until mid-October.

Rosneft supplied 4,000 tonnes of Group I base oils to China in September, with low-viscosity grades traded at $940/tonne DAF Erenhot, and high-viscosity volumes at $1,030-1,050/tonne.

($1 = €0.77)

By: Whitney Shi
+65 6780 4359

AddThis Social Bookmark Button

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.

Printer Friendly