10 November 2011 18:54 [Source: ICIS news]
HOUSTON (ICIS)--US phenol exports for September rose by 51% from the same month a last year, according to data released on Thursday by the US International Trade Commission (ITC).
Exports increased to 53,233 tonnes from 35,227 tonnes in September 2010.
The increase was the result of a strong demand surge from Asia through September.
The demand cycle came to a halt with the October National Day holidays and export demand has since dropped, according to market sources.
Weak market conditions in Asia are expected to continue until the first quarter of next year because of the traditional year-end production lull in the downstream sectors, an influx of deep-sea cargoes amid a deteriorating global economic outlook, and the tight cash flow in China, sources said
Month on month, September US phenol exports fell by 1% from 53,789 tonnes in August, the ITC said.
Top destinations for US phenol exports were Korea, Canada and China.
Major US phenol producers include Dow Chemical, Shell and INEOS Phenol.For more on phenol visit ICIS chemical intelligence
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