08 April 2014 17:56 [Source: ICIS news]
LONDON (ICIS)--A Domestic Group III base oils producer whose material has a high level of OEM (original equipment manufacturer) approvals said on Tuesday it is to target price increases in April.
The producer saw strong levels of demand during the first quarter of 2014, and as a result said it was “very tight in availability of Group III material.”
Having experienced higher levels of demand than anticipated, the producer said it may look to increase its prices during April, if interest continued at this level.
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