11 February 2013 22:14 [Source: ICIS news]
HOUSTON (ICIS)—US 2012 imports of epoxy resins increased 17% year on year, while exports fell 14% in the same span, according to data released on Monday by the US International Trade Commission (ITC).
US 2012 imports were 89,715 tonnes, compared with 76,710 tonnes for 2011. Exports in 2012 were 160,780 tonnes compared with 187,061 tonnes a year ago.
The rise in imports and decrease of exports was tied to upstream costs, sources said, as US producers were forced to work with record-high benzene prices in three months in 2012.
The high upstream costs made US material less competitive with overseas product.
Additionally, imports increased as domestic demand in Asia weakened, pushing sellers to aggressively move material into the US.
US buyers said they experienced strong end-user demand in 2012, allowing them to absorb more material.
The gap between exports and imports in the US fell 35% year on year, according to ITC data.
Major US epoxy resins producers include Dow Chemical, Huntsman and Momentive.
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