US July phenol exports fall by 23% month on month on lower demand

08 September 2011 18:38  [Source: ICIS news]

HOUSTON (ICIS)--US July phenol exports fell by 23% month on month, tracking weaker overseas demand, according to data released on Thursday by the US International Trade Commission (ITC).

US July 2011 phenol exports were 38,859 tonnes, down from 50,710 tonnes in June 2011.

With weaker demand for phenol in Asia because of global economic uncertainty, export prices into the region bottomed out at $1,590/tonne (€1,129/tonne) CFR (cost & freight) China main port, as assessed by ICIS.

Although prices rebounded slightly during the month, demand was described as soft, with buyers looking to take in minimum orders and not build inventories.

Year on year phenol exports were 11% higher, up from 35,020 tonnes in July 2010.

Major US phenol producers include Dow Chemical, INEOS Phenol, Georgia Gulf, Honeywell, SABIC Innovative Plastics and Shell Chemical.

($1 = €0.71)

For more on phenol visit ICIS chemical intelligence

By: John Dietrich

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