August US EG imports plummet on global shortage

12 October 2007 00:07  [Source: ICIS news]

HOUSTON (ICIS news)--US imports of ethylene glycol (EG) plummeted to 11,706 tonnes in August from 46,934 tonnes in July, a drop of 75%, according to the US International Trade Commission on Thursday.

The drop was likely brought on by a global shortage of ethylene glycol (EG), buyers and sellers said.

The global supply of EG tightened considerably following oxygen supply issues at three Sabic units in Saudi Arabia in early August. The units have since resumed operation, but have not returned to normal rates.

Fibre-grade EG prices ran up to an average of 66 cents/lb ($1,4550/tonne) in early October from an average of 47 cents/lb in early August, according to global chemical market intelligence service ICIS pricing.

The August drop in EG imports slowed the increase in year-to-date imports in 2007, which were still up by more than 54% compared with 2006 imports.

By: Gene Lockard
1 713 525 2653

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly