08 July 2013 20:01 [Source: ICIS news]
HOUSTON (ICIS)—US May exports of phenol fell 12% year on year, according to data made available on Monday by the US International Trade Commission (ITC).
US May phenol exports were 38,422 tonnes, down from 43,651 tonnes a year ago.
Month on month, however, exports gained 11% from 34,648 tonnes in April.
Export volumes have been softer because of weak demand from the Asian market, sources said.
Also, US phenol has not been competitively priced because of high costs for feedstock benzene relative to other regions, keeping the arbitrage window closed.
Year to date export volumes for 2013 are down by 39% year on year, at 157,489 tonnes from 260,067 tonnes, according to the ITC.
Major US phenol producers include Axiall, Dow Chemical, Haverhill Chemical, Honeywell, INEOS, SABIC Innovative Plastics and Shell Chemical.
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