Europe paraxylene exports soar in April, May 2013

18 July 2013 13:54  [Source: ICIS news]

LONDON (ICIS)--Exports of paraxylene (PX) from the EU to the rest of the world have seen a staggering increase over April and May when compared with the same period last year, according to data released by Eurostat on Thursday.

 Import and export data by Eurostat (units: tonnes)

Period

IMPORT

EXPORT

April 2012

10,191

11

April 2013

11,313

6,578

Volume difference in tonnes 

1,122

6,567

% change year on year

12.11%

59,701%


While exports were almost negligible in April 2012, with limited production output in Europe and no arbitrage window between the region and Asia, this year has seen a surge in exports amid weak derivative demand, as European sellers look to balance domestic supply levels thorough exports and operating cutbacks where possible.

Import and export data by Eurostat (units: tonnes)

Period

IMPORT

EXPORT

May 2012

15,421

4,810

May 2013

13,489

13,000

Volume difference in tonnes 

1,932

8,190

% change year on year

-12.53%

170%


May this year also saw a sharp rise in volumes being exported from Europe abroad compared with 2012. Several traders have spoken about cargo being shipped to both North and South America this year.

Year on year, imports into Europe have remained fairly steady in line with structural trade flows. May in fact saw a minor reduction of imports into the region amid ongoing bearishness despite the approaching traditional peak season for the downstream polyethylene terephthalate (PET) market.

Eurostat import/export data is subject to revision as more detailed information becomes available.


By: Truong Mellor
+44 208 652 3214



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