US butac exports in May fall 26% year over year
13 July 2010 22:30 [Source: ICIS news]
HOUSTON (ICIS news)--US exports of butyl acetate (butac) in May totalled 4,227 tonnes, down by 26% from 5,747 tonnes shipped abroad during the same month of 2009, the US International Trade Commission (ITC) said on Tuesday.
However, exports from January through May totalled 21,472 tonnes, up by 12% compared with 19,140 tonnes in the first five months last year, according to ITC data.
Sources attributed the year-to-date increase with a strengthening global market, particularly in the automotive sector. Butac is a major ingredient in automotive paint.
In Mexico, the leading export destination, May auto production continued to soar, rising 65% over the same month a year ago, according to the Mexican Automobile Industry Association (AMIA).
From January through May, Mexico, Canada, Brazil, the United Arab Emirates (UAE), South Africa and Peru led all export destinations, accounting for a collective 17,924 tonnes, or 83% of total shipments, according to the data.
US Gulf coast export free on board (FOB) butac prices were 80-84 cents/lb ($1,764-1,852/tonne, €1,394-1,463/tonne) over the past month, according to ICIS.
Major US butac producers include Dow Chemical, Eastman Chemical and Oxea Group.
($1 = €0.79)
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