10 June 2009 20:30 [Source: ICIS news]
HOUSTON (ICIS news)--US April exports of butyl acetate (butac) fell 21% to 4,106 tonnes compared with 5,230 tonnes in the same month a year ago, according to data the US International Trade Commission (ITC) released on Wednesday.
April butac exports increased 36% from March's figure of 3,012 tonnes, the ITC said. Mexico, Brazil, Canada, South Africa and India were the top five export destinations, accounting for 3,276 tonnes, or 80% of total shipments.
One big decline came in exports to the United Arab Emirates, which was the second largest destination in April last year with 1,020 tonnes. This year, the US exported only 262 tonnes.
In the first four months this year, US butac exports fell 31% to 13,393 tonnes, compared with 19,359 tonnes in the same period of 2008.
The decline stems from the global recession, particularly from the fall off in the global housing and auto industries, according to market sources. Butac is an ingredient in paints and coatings, including automotive paint.
US Gulf coast export prices for butac were 55-59 cents/lb ($1,213-1,301/tonne or €861-924/tonne) over the past month, according to global chemical market intelligence service ICIS pricing.
Major US butac producers include Dow Chemical, Eastman Chemical and Oxea Group.
($1 = €0.71)
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