08 August 2013 09:47 [Source: ICIS news]
SINGAPORE (ICIS)--Russia’s Rosneft has increased its August export prices for high-viscosity Group I base oils to China to $1,030-1,060/tonne (€773-795/tonne), up by $10-60/tonne from July, a Chinese importer said on Thursday.
The price is on a delivered-at-frontier (DAF) Erenhot basis.
August prices for low-viscosity grades, on the other hand, were unchanged from July at $910-950/tonne DAF Erenhot, the importer said.
Higher prices reflect robust demand for high-viscosity base oils in China this month, industry sources said, adding that demand from Europe is also expected to rebound in the middle of August.
Rosneft will export 10,000 tonnes of Group I base oils to China in August, including 6,000 tonnes of low-viscosity products and 4,000 tonnes of high-viscosity grades.
All the volumes for export will be produced by Rosneft’s 250,000 tonne/year Group I base oils plant at Angarsk in Russia.
($1 = €0.75)
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