12 December 2012 17:58 [Source: ICIS news]
HOUSTON (ICIS)--US October phenol exports fell by 14% year on year, according to data made available on Wednesday from the US International Trade Commission (ITC).
US October phenol exports totaled 49,796 tonnes, down from 57,652 tonnes a year ago.
Most of the drop is the result of high feedstock benzene prices making US phenol unattractive to overseas buyers.
US spot phenol prices were assessed by ICIS at 59-65 cents/lb ($1,301-1,433/tonne, €1,002-1,103/tonne) on an FOB (free on board) basis.
This represented premiums of 1 cent/lb below feedstock benzene to 5 cents/lb above benzene, making trading unattractive for US producers.
Month on month, phenol exports fell by 5.0% from 52,421 tonnes in September 2012.
Major US phenol producers include Dow Chemical, Georgia Gulf, Haverhill Chemical, Honeywell, INEOS Phenol, SABIC Innovative Plastics and Shell Chemical.
($1 = €0.77)
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