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SINGAPORE (ICIS) -- Russia’s Rosneft is keeping the
December-delivery Group I base oil prices from its Angarsk refinery to China
largely unchanged from November, Chinese traders said on Thursday.
The
refiner’s December prices to China are at $950/tonne (?703/tonne) for
low-viscosity cargoes and $960-970/tonne for high-viscosity products, both on a
DAF (delivered at frontier) basis to Erenhot, they said.
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Market players were expecting a price reduction because of the
prevailing weak demand.
However, Rosneft said stronger crude futures and its
resultant higher production costs were its reasons for keeping its prices
largely steady, according to the players.
In addition, the refiner plans to
supply 8,000 tonnes of Group I base oils to China in December, a 16% drop from
November, traders said.
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mrcplast.com
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