Volume 8 Issue 19
Japan Lubes Demand Up Again
May 7, 2021Finished lubricants consumption in Japan grew 15% year-to-year in March, the third month in the past four that output exceeded the corresponding month from a year earlier. The nation – one of the world’s six biggest lube markets – consumed 143,430 kiloliters of finished lubes in March, compared to 124,808 kL in March of 2020, according to data released last week by the Japan Ministry of Economy, Trade and Industry.
Earnings Rise for Hi-Tech, MJL
May 7, 2021For the quarter ending March 31, MJL Bangladesh Ltd. and Pakistan’s Hi-Tech Lubricants both reported higher profit and sales. Hi-Tech noted that its lubricants business has benefited from growth in Pakistan’s automobile industry and a rebound in economic activity.
Pandemic Hammers India Auto Sales
May 7, 2021For the fiscal year ending March 31, India’s domestic automotive sales declined for all segments, most sharply in the two-wheeler and three-wheeler categories, according to data released by the Society of Indian Automobile Manufacturers. Although sales showed recovery from low points in April-June 2020, the society said the pandemic – combined with an industry slowdown that preceded it – set vehicle segments back by years.
Briefly Noted
May 7, 2021Perstorp Oxo AB increased prices effective May 1, or as contracts allow, on n-valeric acid – a carboxylic acid used in esters for synthetic lubricants – citing supply and demand and rapidly increasing costs. For bulk, the increases are by $250 per metric ton in Europe, 14 cents per pound in the United States and $300/t in the rest of the world. For its packed form, the increases are by $415/t in Europe, 23 cents/lb. in the U.S. and $500/t in the rest of the world.