Russia’s Rosneft to supply 10,500 tonnes base oils to China in Dec

29 November 2013 07:50  [Source: ICIS news]

SINGAPORE (ICIS)--Russia’s Rosneft plans to supply 10,500 tonnes of Group I base oils to China in December, down by 1% from November volumes, a Chinese importer said on Friday.

The cargoes will consist of 6,000 tonnes of low-viscosity base oils and 4,500 tonnes of high-viscosity grades, the importer said.

The volumes will be produced by Rosneft’s 250,000 tonne/year Group I base oils plant at Angarsk in Russia.

Prices of the December-delivered cargoes are likely to decline amid falling demand in the Chinese market, most traders said.

Russian base oils producers are willing to increase exports immediately, as most ports in Russia will be closed if the temperature drops further, traders said.

In November, Rosneft exported 10,600 tonnes of Group I base oils to China, comprising 6,300 tonnes of low-viscosity volumes and 4,300 tonnes of high-viscosity grades.

Low-viscosity cargoes were traded $900-950/tonne (€666-703/tonne) DAF (delivered at frontier) Erenhot and high-viscosity grades were sold at $1,060/tonne DAF Erenhot.

($1 = €0.74)

By: Whitney Shi
+65 6780 4359

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