28 October 2013 19:14 [Source: ICIS news]
HOUSTON (ICIS)--US August exports of epoxy resins declined year on year while imports moved up, according to data made available on Monday from the US International Trade Commission (ITC).
The ITC said August epoxy resin exports fell by 24% year on year to 11,513 tonnes from 15,091 tonnes for the same month a year ago.
Much of the year on year decline came as US material was unattractive to buyers in the Asian market because of high prices.
Month on month, US epoxy resin exports were 3.4% higher from 11,133 tonnes in July 2013.
The high prices in the US led to aggressive buying of overseas material by US consumers, which pushed up year on year imports by 21%.
US August imports of epoxy resins were 9,285 tonnes compared with 7,652 tonnes for the same month a year ago.
Month on month, imports were 4.5% lower from 9,725 tonnes in July 2013, owing to slightly softer demand as the peak season came to a close.
Major US producers of epoxy resins include Dow Chemical, Huntsman and Momentive.
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