US EPS imports grow, but still down 16% year over year

12 August 2009 22:34  [Source: ICIS news]

HOUSTON (ICIS news)--US expandable polystyrene (EPS) imports for the first half of 2009 were down by 16% compared with last year’s figures for the same period, but they grew nearly 17% in June relative to May, according to data from the US International Trade Commission (ITC) released on Wednesday.

The US imported 17,009 tonnes of EPS in June, 2,426 tonnes over the 14,583 tonnes imported in May.

This is likely due to a gradual widening of the price gap between domestic and imported EPS beads that is making imports more attractive to US transformers despite delayed delivery options.

And this could be magnified in September if all domestic price-increase initiatives take hold. The gap may grow from 3 cents/lb to about 10 cents/lb.

Mexico was again the top EPS supplier to the US in June with 5,223 tonnes, up 18.5% from 4,406 tonnes recorded in May.

The Bahamas and Canada took second and third place respectively in June with 4,509 and 2,933 tonnes, respectively, with volumes up in June over May for both countries.

Imports from Korea also increased slightly in June, while those from Taiwan and China were up a notch over May figures.

First-half imports from Indonesia and Germany went up 50% and 19% year-on-year, but their overall volumes were low with 249 and 159 tonnes, respectively.

The table below shows a summary of EPS import statistics through June 2009.

	June '08	May '09	June '09	1H 2008	1H 2009	% chg
Total	16,720	14,583	17,009	100,075	84,236	-16
Mexico	4,444	4,406	5,223	28,714	15,822	-45
Bahamas	4,395	4,377	4,509	27,991	22,809	-19
Canada	1,729	2,332	2,933	8,336	13,290	59
Korea	1,866	2,126	2,466	14,194	13,983	-1
Taiwan	571	454	739	4,976	5,970	20
China	3,311	501	599	12,518	8,963	-28
Indonesia	283	200	249	1,724	2,583	50
Germany	0	0	159	317	377	19
Japan	78	56	66	603	155	-74
United Kingdom	0	0	22	447	22	-95
All others	43	130	45	254	263	4

Source: ITC. Import volumes are in metric tonnes.

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By: George Martin
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