12 December 2011 21:45 [Source: ICIS news]
HOUSTON (ICIS)--US October 2011 imports of epoxy resins increased by 18% month on month, according to data obtained Monday from the US International Trade Commission (ITC).
US October 2011 imports were 7,057 tonnes, up from 5,987 tonnes in September 2011.
Standard liquid epoxy resin (LER) spot prices fell by 14–16 cents/lb ($309–353/tonne, €231–265/tonne) to the end of October from the start of September.
LER spot prices ended October at $1.58–1.63/lb DEL bulk (delivered in bulk), compared with $1.72–1.79/lb DEL bulk at the start of September, as assessed by ICIS.
This pushed US buyers to switch to import material wherever possible, and also put downward pressure on US domestic material, which was at a premium of 5 cents/lb for most of September and October.
Year on year, imports also increased by 4%, from 6,815 tonnes in October 2010.
US October 2011 exports of epoxy resins were down 22%, to 12,961 tonnes from 16,703 tonnes.
Month on month, exports were up 2%, from 12,748 tonnes.
Major US epoxy resins producers include Dow Chemical, Huntsman and Momentive.
($1 = €.075)
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