Russia’s Rosneft raises base oils prices to China in April

09 April 2013 08:23  [Source: ICIS news]

SINGAPORE (ICIS)--Russia’s Rosneft has raised its offers for Group I base oils exports to China in April by $80-90/tonne (€62-69/tonne) from the previous month, a Chinese importer said on Tuesday.

Prices rose by $80/tonne to $990-1,000/tonne DAF (delivered at frontier) Erenhot for low-viscosity base oils, and those of high-viscosity grades were $90/tonne higher at $1,090-1,100/tonne DAF Erenhot, the importer added.

The hikes in April offers were a reflection of higher base oils prices in Europe and rising Group I prices in the Asian market as well, industry sources said.

Rosneft exported a total of 18,900 tonnes of Group I base oils to China in March-April, including 11,340 tonnes of low-viscosity grades and 7,560 tonnes of high-viscosity grades.

All the volumes for export are produced by Rosneft’s 250,000 tonne/year Group I base oils plant at Angarsk in Russia.

($1 = €0.77)

By: Whitney Shi
+65 6780 4359

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