The leading media in the field of lubricants, oils, and waxes, Lubes ‘N’ Greases, has quoted DYM Resources’ managing director Denis Varaksin.
“China’s imports of many raw materials have dropped,” Denis Varaksin, director of base oils and waxes at German trading company DYM Resources GmbH, told Lube Report. “So, the import of base oils has decreased massively, and a big part of that import was Group III … from South Korea, Malaysia and the Middle East.”
“These flows are likely to be re-directed to other markets such as Europe, [the U.S.] and India, driving premiums for Group III down,” Varaksin said.“The reason is the same – the virus – but the impact is different,” Varaksin said. “Because of the Chinese import drop, the Group III market globally is long, and because of the Iranian export decrease, the Group I market is short in the Middle East, India, Africa and Southeast Asia.”
Read the full article on Lubes ‘N’ Greases.
DYM Resources is a base oils trader with headquarters in Berlin, Germany. The company is offering a wide range of base oils, including Group I, II and III as well as finished lubricants and additives. DYM Resources exports base oils and waxes from Russia, Uzbekistan, Turkmenistan, Europe and other locations in flexi-containers, iso-tank, trucks, rail tank cars and bulk vessels.
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