Published on July 30, 2014
Group I base oils are facing tough competition from Group II in India as a result of narrow price gap between the two.
Prices for Group I SN500 has increased by about 12 per cent to $1,060/tonne CFR India on 25 July. While, Group II 500N import prices for India declined by 1.6 per cent to $1,092.50/tonne CFR India during the same period. Ample supply and weak demand have pushed down Group II spot prices.
