06 May 2013 20:45 [Source: ICIS news]
HOUSTON (ICIS)--US March imports of epoxy resins increased 24% month on month, according to data released on Monday by the US International Trade Commission (ITC).
US March imports of epoxy resins were 8,931 tonnes, up from 7,195 tonnes in February.
The increase mostly stemmed from US domestic producers announcing price-increase nominations of 6 cents/lb ($132/tonne, €101/tonne) and 8 cents/lb for February and March.
The then-impending price increase nominations pushed US buyers to purchase material from overseas sellers, as it was at a discount of 7-9 cents/lb.
Year on year, import volumes were up by 7.1% from 8,339 tonnes in March 2012.
On the export side, US March volumes were 16,270 tonnes, up by 2.2% year on year from 15,924 tonnes.
Month on month, US March exports were 7.4% higher from 15,155 tonnes in February 2013.
Demand for epoxy resins was still strong in North America, with a strong coatings season expected.
Major US producers of epoxy resins include Dow Chemical, Huntsman and Momentive.
($1 = €0.76)
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