China to receive Aug spot Group III base oils from SK Lubricants

06 August 2013 09:22  [Source: ICIS news]

(recasts last paragraph for clarity)

SINGAPORE (ICIS)--China is expected to receive 6,000 tonnes of spot Group III base oils from South Korea’s SK Lubricants in early August, a Chinese importer said on Tuesday.

The cargoes, including 4cst and 6cst grades, were traded $1,080-1,090/tonne (€810-818/tonne) FOB (free on board) South Korea, the importer said.

SK Lubricants plans to increase its offer for spot Group III cargoes delivered in late August and September to $1,120/tonne FOB  in view of rising international crude prices, a company source said.

The company has two Group III base oils facilities in Ulsan with a combined capacity of 2.15m tonnes/year.

($1 = €0.75)

By: Whitney Shi
+65 6780 4359

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