Japan Lube Sales Jumped in March


Japan Lube Sales Jumped in March

Finished lubricant sales in Japan jumped to 176,282 kiloliters (158,527 metric tons) in March, the highest level in six months and 38% higher than March of 2022.

Lubricant production in the country also rose, while exports and imports declined compared to the same month of last year.

The March consumption total – reported Saturday by the national Ministry of Economy, Trade and Industry – was the highest monthly total since 187,308 kL in September. The country’s lube market, still one of the largest in Asia, continues to rebound from the trough of the COVID-19 pandemic. Sales in 2022 were 20% higher than in 2021, and the total for the first quarter of this year ran 17% ahead of the same period of last year.

The country produced 231,840 kL of lubes in March, a 12% increase year to year. The total for this March was also up 37% from February.

Japan always exports a large chunk of the lubricants that it produces. For March exports were 67,730 kL, a decrease of 19% year to year.

Imports, always much lower than exports, dropped 52% from March of 2022 to 9,228 kL.

The country’s refiners produced 153,290 tons of base oil in March, 17% less than the same month of 2022.

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