17 April 2013 17:05 [Source: ICIS news]
LONDON (ICIS)--Independent lubricant blenders in South Africa have noted an increase in finished lube demand during March and April.
Speaking on Wednesday, one blender said its month-on-month demand growth since March was around 3%, which contrasts with flat or even negative growth since around mid-2012.
Furthermore, the blender was confident this trend would continue in the succeeding months.
However, another blender, while agreeing demand had increased, said the month-on-month growth was only marginal. Instead, the positive aspect was that demand had not decreased during March and April, as it did sharply in 2012.
The second blender said it remained to be seen whether the marginal growth would turn into a positive trend, although it was cautiously optimistic.
“We’re not popping the Champagne corks yet, but its moving in the right direction,” it said.
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