PETRONAS Oct spot base oils prices to China down by $20/tonne

15 October 2013 10:22  [Source: ICIS news]

SINGAPORE (ICIS)--Malaysia’s PETRONAS has reduced prices of its spot Group III base oils supply to China by $20/tonne from last month to $1,060-1,090/tonne (€784-807/tonne) for October delivery, a company source said on Tuesday.

The prices are on a CFR (cost & freight) China basis.

The company exported 2,000 tonnes of Group III 4cst and 6cst base oils to China for October delivery, the source added.

The drop was mainly attributable to weak demand from Chinese importers in 2013, industry sources said.

Chinese importers were unwilling to accept high import offers for October in view of falling international crude prices, added the sources.

PETRONAS sold 3,000-3,500 tonnes of spot Group III base oils to China at $1,050-1,080/tonne FOB (free on board) Malaysia in September.

($1 = €0.74)


By: Whitney Shi
+65 6780 4359



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly