12 December 2012 21:07 [Source: ICIS news]
HOUSTON (ICIS)--US October exports of epoxy resins increased by 47% year on year, according to data made available on Wednesday by the US International Trade Commission (ITC).
US October epoxy resins exports totaled 19,024 tonnes, up from 12,961 tonnes a year ago.
Exports also increased month on month, by 40% from 13,597 tonnes in September 2012.
However, the rebound in export volumes was not enough to increase year-to-date exports of epoxy resins.
Year to date exports totaled 136,063 tonnes, down from 163,184 tonnes through October 2011.
On the import side, year on year volumes increased by 7.4% in October to 7,576 tonnes from 7,057 tonnes.
However, volumes were lower month on month by 10% from 8,415 tonnes.
Year to date, import volumes are higher by 23% at 79,612 tonnes from 64,978 tonnes.
Sources said that imports are gaining on exports largely because Asian producers are looking to grab market share and are aggressively pricing their material.
Currently, US domestic product is being heard done at $1.38-1.45/lb ($3,042-3,197/tonne, €2,343-2,461/tonne) DEL bulk (delivered via bulk), compared with spot prices at $1.37-1.44/lb DEL bulk.
Major US epoxy resins producers include Dow Chemical, Huntsman and Momentive.
($1 = €0.77)
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