10 June 2010 21:11 [Source: ICIS news]
HOUSTON (ICIS news)--US exports of phenol from January to April were 125,320 tonnes, 105% more than the 61,053 tonnes exported during the same period one year ago, according to data released by the US International Trade Commission (ITC) on Thursday.
US sellers sent several phenol/acetone cargoes to Asia during the first quarter, when reduced production and maintenance turnarounds at Asia facilities contributed to a big jump in phenol prices in that region.
China and Thailand led all export destinations, accounting for over 40,000 tonnes collectively.
Traders have said the trend to export from the US to Asia could reverse as early as May or June.
April 2010 exports at 18,399 tonnes were 14% lower than the 21,429 tonnes sent in April 2009.
Just shortly after the US had exported huge volumes of material to Asia drying up domestic inventories, a number of US plants had turnarounds leading to exceptionally tight phenol supply in the US Gulf during April and May.
Major US phenol sellers include Georgia Gulf, Shell, Sunoco, Dow Chemical and INEOS.
($1 = €0.83)
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