AFPM ’13: Mexico and South America demand more premium base oils
26 March 2013 15:25 [Source: ICIS news]
SAN ANTONIO, ?xml:namespace>Texas (ICIS)--Base oil demand from Mexico and South America is improving for Group I, II and III base stocks, opening additional trade flow options in this global market, industry sources said on Tuesday.
“In South America, Brazil’s strength as the world’s fourth largest automobile manufacturing country continues to boost its presence in the base oil sector, and buyers want more premium base stocks,” a base oils supplier said on the sidelines of the International Petrochemical Conference (IPC).
Mexico’s base oil demand is steady and growing, with increasing connection to the US market, the supplier added.
Mexico and Brazil also continue to show increasing interest in sourcing Group II base stocks from the US, offering improving trade flow options in both directions from the US Gulf Coast, as well as US east coast ports. Globally, the US and Europe are the largest exporters of Group I base oils, Asia of Group III and the US of Group II.
Much of the base oil bought by Mexico is transferred through Brownsville, Texas.
Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC continues through Tuesday.By: Heather McGuire Doyle+1 713 525 2653
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