EU toluene exports rise year on year in April and May 2013

18 July 2013 15:28  [Source: ICIS news]

LONDON (ICIS)--EU toluene exports increased year on year in April and May, according to data released by Eurostat on Thursday.

May 2013 exports from the EU to the rest of the world nearly doubled when compared to the same period last year. Slow derivative demand and lower pricing in the US has kept European pricing and sentiment bearish, and sellers have sought to move material out of the region to keep the market relatively balanced.

This follows on from the first quarter of 2013, when exports out of the EU were up by 13.1%. Imports during this period saw a much sharper rise in terms of percentages, but the volumes being shipped were minor in comparison.

Meanwhile, imports into the EU rose year on year in April 2013.

While the European toluene market is primarily export driven, April this year saw balanced to tight domestic inventory levels and a slump in the Asian market. This in turn opened the arbitrage window from Asia into Europe, although it should be noted that the actual volumes are relatively small.

Import and export data by Eurostat (units: tonnes)

Period

IMPORT

EXPORT

April 2012

135

13,625

April 2013

1,111

19,995




Volume difference in tonnes 

976

6,370

% change year on year

723%

47%


Import and export data by Eurostat (units: tonnes)

Period

IMPORT

EXPORT

May 2012

516

12,653

May 2013

485

24,329




Volume difference in tonnes 

31

11,676

% change year on year

-6.03%

92%


By: Truong Mellor
+44 208 652 3214



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