17 October 2012 17:07 [Source: ICIS news]
“At this point, we are still working to get the prices up,” a seller said.
Major producer, Ergon, led the price initiatives with a 16 cent/gal increase announcement, effective on 5 October.
But San Joaquin Refinery (SJR) and Nynas have yet to follow the increase initiatives, although these remain under consideration.
SJR continues to deal with conditions special to the
Both SJR and Nynas are also coping with challenges in the slow export market, dominated by flagging demand in importing countries hit by weak global economics.
Spot prices for naphthenic pale 60 viscosity grade base oils were last assessed at $3.57-3.80/gal, while heavy viscosity pale 2400 material was assessed at $3.50-4.00/gal.
The 2012 ILMA meeting ends Wednesday.
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