02 November 2012 08:40 [Source: ICIS news]
The decline could be attributed to falling domestic demand in
Prices of low-viscosity base oils dropped by $10-20/tonne from a month ago to $950-960/tonne on a DAF (delivered at frontier) Erenhot basis for November, and prices for high-viscosity volumes went down by $10-30/tonne to $1,020-1,030/tonne, the importer added.
Group I base oils prices are expected to continue on the weak trend this month as a result of lower import offers and soft downstream demand from lubricant plants in
Group I grades were traded at yuan (CNY) 8,250-9,200/tonne ($1,322-1,474/tonne) on 2 November in the Chinese market, down by CNY200-400/tonne from the previous week, traders said.
Rosneft supplied 3,410 tonnes of Group I base oils to
($1 = €0.77 / $1 = CNY6.24)
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