13 April 2012 17:25 [Source: ICIS news]
HOUSTON (ICIS)--US February phenol exports fell by 2.7% year on year according to data released on Friday by the US International Trade Commission (ITC), tracking softer demand.
US February 2012 phenol exports were 51,426 tonnes, down from 52,854 tonnes for the same month a year ago.
With US February phenol prices spurred higher by surging feedstock benzene and refinery-grade propylene (RGP) costs, overseas demand waned.
Asian buyers also stayed out of the market on weak domestic demand and a continued lull after the Lunar New Year holidays.
US phenol export prices for February were assessed by ICIS at 61-67 cents/lb ($1,344-1,477/tonne, €1,022-1,123/tonne) on an FOB (free on board) basis.
Month on month, US phenol exports increased by 17% from 43,850 tonnes in January.
Phenol imports remained negligible, with 61 tonnes moved into the US in February 2012, more than double the 23 tonnes in February 2011.
Month on month, phenol imports increased by 53% from 40 tonnes in January.
Major US phenol producers include Dow Chemical, Georgia Gulf, Haverhill Chemical, Honeywell, INEOS Phenol, SABIC Innovative Plastics and Shell Chemical.
($1 = €0.76)
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