23 September 2013 04:08 [Source: ICIS news]
SINGAPORE (ICIS)--Russia’s Rosneft plans to reduce its Group I base oils exports to China to 11,500 tonnes in October, down by 4.2% from September volume, a Chinese importer said on Monday.
The cargoes will consist of 7,000 tonnes of low-viscosity base oils and 4,500 tonnes of high-viscosity grades, the importer said, adding that all the volumes will be produced by Rosneft’s 250,000 tonne/year Group I base oils plant in Angarsk, Russia.
Cargo offers for October delivery are expected to be stable despite expectations of robust demand, as China has sufficient supply of Group I base oils, industry sources said.
Rosneft exported 12,000 tonnes of Group I base oils to China in September, including 7,200 tonnes of low-viscosity volumes and 4,800 tonnes of high-viscosity grades.
September low-viscosity cargoes were traded at $930-960/tonne (€688-710/tonne) DAF (delivered-at-frontier) Erenhot and high-viscosity grades were sold at $1,030-1,060/tonne.
($1 = €0.74)
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