February US MIBK exports plummet by 81% year over year

09 April 2009 15:24  [Source: ICIS news]

HOUSTON (ICIS news)--US exports of methyl isobutyl ketone (MIBK) for February fell on weak global demand and a stronger US dollar to 671 tonnes, a drop of 81% from 3,507 tonnes during the same month one year ago, according to US International Trade Commission (ITC) data released on Thursday.

The higher year-ago export levels were attributed largely to the weakening US dollar in February 2008 when the domestic economy was in the early stages of the recession that US economists say began in December 2007.

India was the primary export destination in February, taking 521 tonnes or 78% of the month's total export volumes, the ITC said. Month-over-month shipments to Canada were down by 36%.

MIBK imports rose sharply to 401 tonnes in February, all from South Africa. In January, only South Korea shipped the product - 36 tonnes - to the US.

US MIBK producers include Dow Chemical, Eastman and Celanese.

($1= €0.76)

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By: Larry Terry
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