South Korea exported 10% less base oil in November than in the same month of last year, and the reported value of the exports fell 24%, according to data released today by a government agency.
The country exported 310,088 metric tons of base oil last month, down from 342,551 tons year to year, the Korea Customs Service reported. That volume was the third lowest this year, ahead of 284,660 tons in June and 259,281 tons in July.
The value of the exported base oil dropped from $441.3 million to $337 million, also third lowest this year.
South Korea imported 15% more base oil, 25,329 tons compared to 21,945 tons. It was the third-most base oil imported in a month this year, behind 28,991 tons in October and 27,959 tons in September.
The value of the imported base oil also rose 15%, to $30.5 million. That was the fourth-highest import value for a month this year.