US December VAM exports fall 49% on recession

11 February 2009 21:20  [Source: ICIS news]

HOUSTON (ICIS news)--December 2008 US VAM exports fell by 49% to 22,995 tonnes from the same month of 2007, the US International Trade Commission (ITC) said on Wednesday.

The falloff reflects the recession in the US economy - and particularly in the housing market - as well as slumping economies in Latin America and Europe, according to market sources. VAM is a major ingredient in architectural paints and coatings.

December exports rose about 10% over 20,919 tonnes in November 2008, according to the data.

US exports of VAM in 2008 totalled 455,627 tonnes, up 18% over 386,053 tonnes in 2007, the ITC said.

Belgium, Germany, Brazil, Canada and Mexico were the top US VAM export destinations in 2008, accounting for a collective 249,586 tonnes, or almost 55% of total shipments, the ITC said.

US Gulf coast export FOB (free on board) prices were $850-1,150/tonne (€663-897/tonne) over the past month, according to global chemical market intelligence service ICIS pricing.

Major US VAM producers include Celanese, Dow Chemical, DuPont and LyondellBasell.

($1 = €0.78)

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By: Lane Kelley
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