Margin narrows as US remains net importer of PET

14 February 2008 22:44  [Source: ICIS news]

HOUSTON (ICIS news)--US imports of polyethylene terephthalate (PET) in 2007 outpaced exports by about 77% despite a year-on-year rise in exports and a decrease in imports, according to the US International Trade Commission (ITC) on Thursday.

Imports of PET were 817,649 tonnes in 2007, a 7% drop from 878,642 tonnes in 2006. The drop in imports was due to a 15% decline in US purchases of Asia material, which was only partly offset by a 13% rise in imports from Canada and Brazil.

This evidence of a shift in trade flows was consistent with analysts' predictions for the PET industry over the next two years.

Exports of PET in 2007 were 460,998 tonnes, or 21% more than in 2006, the ITC said.

Exports in December were 33,023 tonnes, at parity with November exports.

Thirty-six percent of US PET exports stayed in North America while another 25% went to Central and South America. Canada was the leading importer of US PET with 115,341 tonnes in 2007, a 41% increase over 2006.

January and early-February prices for US PET were assessed in a range of 75-79 cents/lb ($1,653-1,742/tonne or €1,141-1,202/tonne), an increase of 2 cents/lb over December, according to data from global chemical market intelligence service ICIS pricing.

($1 = €0.69)

For more on PET visit ICIS chemical intelligence

By: Landon Feller
+1 713 525 2653

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