Although South Korea exported a smaller volume of base oils in June, compared to the same month last year, the declared export value more than doubled, reflecting a continued trend in higher base oil prices.
South Korea exported 384,101 metric tons of base oils in June, a 3% decline from 397,573 tons in the same month last year, according to data released this week by the Korea Customs Service. The export volume was up 11% from June 2019. Sequentially, the June 2021 export volume was up 20% from 321,141 tons in May. The export volume peaked this year at 425,705 tons in April.