South Korea exported more than 400,000 metric tons of base oil at a value of more than $425 million in December, marking the fourth consecutive month those levels were exceeded. For the full year, base oil export volume was up almost 10%, and the value was more than 80% higher than in 2020.

Japanese specialty lubricant manufacturer Moresco Corp. reported higher sales of specialty lubricants and slightly higher sales of synthetic oils for the fiscal quarter ended in November, due to automobile production increasing in some regions despite a global semiconductor shortage. Sales of specialty lubricants totaled ¥9.7 billion, up 27% from the same period last year and 2% better than the same quarter of 2019.

Domestic vehicles sales in Japan last year were down slightly from 2020 and remained well behind 2019, according to data released by the Japanese Automobile Manufacturers Association. Factors impacting the country’s automotive industry include the COVID-19 pandemic and supply side constraints, including the global semiconductor shortage.