10 February 2010 21:58 [Source: ICIS news]
HOUSTON (ICIS news)--US exports of butyl acetate (butac) in 2009 totalled 57,688 tonnes, down by 10% compared with 64,413 tonnes during 2008, the US International Trade Commission (ITC) said on Wednesday.
December exports fell 3% to 4,568 tonnes compared with 4,728 tonnes in the last month of 2008, according to the ITC data.
The decline largely reflects a drop in auto sales brought on by the global economic downturn, market sources said. Butac is a major ingredient in automotive paint.
Mexico and Brazil led all export destinations, accounting for a collective 23,440 tonnes in 2009, or almost 41% of total shipments.
Those two countries plus India, Canada, South Africa and Venezuela more than 70% of all butac exports during the year.
US Gulf coast export FOB (free on board) prices were 54-70 cents/lb ($1,191-1,544/tonne, €869-1,127/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 = €0.73)
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