19 July 2013 09:14 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s CPC-Shell Lubricant plans to resume spot supply of Group I base oils to China in August, a Chinese importer said on Friday.
The supply will all be of high-viscosity grades, including 1,000 tonnes of SN500 and over 3,000 tonnes of BS150, the importer said.
The price of SN500 was at $1,140/tonne (€866/tonne) CFR (cost & freight) China and BS150 was at $1,250-1,260/tonne CFR China, added the importer.
Major regional Group I producers started to offer spot cargoes to China in July in view of the strengthening demand and profitable margins of high-viscosity grades, industry sources said.
CPC-Shell Lubricants has halted its spot supplies to China since March 2013 .
The company’s 120,000 tonne/year low-viscosity Group I base oil production line remains shut for maintenance, with the restart schedule unknown.
($1 = €0.76)
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