EU benzene imports continue to rise in July, August

23 October 2013 12:42  [Source: ICIS news]

LONDON (ICIS)--Benzene imports the EU were up in July and August 2013 compared with the same period last year, data from European statistics agency Eurostat showed this week.

Exports from the EU to the rest of the world were down year on year during this same period.

This was a continuation of the trend seen during the first half of 2013, when imports into the EU saw a 27% year on year increase, with Europe being the highest priced global region and thus attracting imported volumes.

While European benzene spot numbers dipped towards the end of July 2013 amid weak demand and improved availability stemming from the arrival of imports, prices soon picked up again by August.

Gains in both Asia and the US as well as firmer oil and naphtha costs in August helped support European benzene numbers. Imports into the EU were down from July 2013 but still up by 21% from the same period last year.

Import/export data from Eurostat (units: tonnes)

Period

Import

Export

July 2012

44,842

21,399

July 2013

102,326

4,930

Volume difference

57,484

16,469

% change year on year

128%

-77%

 

Period

Import

Export

August 2012

59,572

22,275

August 2013

71,956

10,775

Volume difference

12,384

11,500

% change year on year

21%

-52%

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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