US Dec PP exports rise 8% year over year

10 February 2010 22:05  [Source: ICIS news]

HOUSTON (ICIS news)--US polypropylene (PP) export volumes totalled 108,444 tonnes in December, up from 100,280 tonnes in December 2008, according to the latest data released by the US International Trade Commission (ITC) on Wednesday.

Sequentially, however, fourth-quarter export volumes fell off sharply from the third quarter, the ITC said.

Traders said rising US Gulf propylene feedstock costs in the second half of 2009 made US PP less competitive in overseas markets.

Sources said spot polymer export opportunities during January and February of 2010 were further limited by consecutive price increases for US PP, as the underlying monomer contract rose by 3.0 cents/lb in January and 6.5 cents/lb in February.

Bagged homopolymer for export was at 66-68 cents/lb ($1,455-1,499/tonne, €1,062-1,094/tonne) FOB (free on board) US Gulf, according to data from global chemical market intelligence service ICIS pricing.

US PP exports surged during the second quarter of 2009 as China’s stimulus spending spurred demand for the resin, which is used to manufacture many durable goods.

 

Q1 2009

Q2 2009

Q3 2009

Q4 2009

US PP exports (in tonnes)

365,881

486,436

414,965

332,772


Percent tonnage shipped to China

25.6%

44.7%

30.7%

21.6%

($1 = €0.73)

For more on polypropylene visit ICIS chemical intelligence
ICIS has launched weekly pricing reports in Africa for polyethylene and polypropylene. For more information contact Nadine Spoeri
To discuss issues facing the chemical industry go to ICIS connect


By: David Barry
+1 713 525 2653



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