08 June 2012 20:48 [Source: ICIS news]
HOUSTON (ICIS)--US April phenol exports fell by 21% month on month, data from the US International Trade Commission (ITC) showed on Friday, tracking weaker demand from Asia and high prices.
US April phenol exports were 53,386 tonnes, down from 67,755 tonnes in March.
The biggest reason for the month-on-month fall was US pricing being uncompetitive with Asian values.
China import prices fell by 2.1% during the month, as assessed by ICIS, while prices into India dropped by 4.1%.
In comparison, US prices were largely steady between 65-70 cents/lb ($1,433- 1,543/tonne, €1,132-1,219/tonne) FOB (free on board).
Domestic demand in Asia also fell on weak buying interest.
Year on year, exports increased by 67% from 32,008 tonnes in April, 2011.
Year-on-year exports increased largely because of was more supply, as phenol feedstock cumene availability was severely limited in April 2011.
US phenol producers include Dow Chemical, Honeywell, INEOS Phenol, SABIC Innovative Plastics and Shell Chemical.
($1 = €0.79)
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