01 May 2012 21:21 [Source: ICIS news]
HOUSTON (ICIS)--US 2011 first-quarter phenol production fell by 10% year on year, tracking weaker export demand from Asia, sources said on Tuesday.
According to data from the American Fuel and Petrochemical Manufacturers (AFPM), US 2012 Q1 phenol production was 451,734 tonnes, down from 502,082 tonnes in Q1 2011.
Export demand for phenol was soft in the first quarter of 2012, and the arbitrage window for US material was narrow because of high shipping costs and import duties.
Quarter on quarter, production increased by 22% from 370,649 tonnes in Q4 2011, as demand improved slightly from what was a major destocking period.
US spot phenol prices for the week ended 27 April were assessed by ICIS at 62-66 cents/lb ($1,367-1,455/tonne, €1,039-1,106/tonne) on an FOB (free on board) basis.
Dow Chemical, Georgia Gulf, INEOS Phenol and Shell Chemical contributed to the AFPM data.
($1 = €0.76)
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