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.