US chemical shipments up 2% in October, petchems down slightly

05 December 2013 16:15  [Source: ICIS news]

HOUSTON (ICIS)--The value of US-made chemical shipments rose 2% in October, while petrochemical shipments showed a slight decline, according to data released on Thursday by the US Department of Commerce.

The value of US land and water chemical shipments totalled $63.9bn (€47.2bn) in October, compared to $62.5bn in the same month a year earlier.

It was the sixth straight month of positive year-on-year returns in terms of shipment value.

Chemical shipments declined slightly year on year in March and April over the same months in 2012.

Petrochemicals, the largest chemical sector tracked by Commerce, fell by less than 1% in October. Shipment values totalled $42.5bn, compared to $42.8bn in the same month a year ago.

The value of total shipments for all US manufacturing industries in October moved its string of year-on-year gains to 47 straight months, a streak that began in December 2009.

Total manufacturing shipments rose by 1% to $489.3bn, compared with $482.3bn in the same month a year earlier.

Besides petrochemicals, the only other chemical sector that declined in October, pesticides and fertilizers, fell by more than 21%. Shipment values totalled $2.5bn, compared with $3.2bn in October a year earlier.

Pharmaceuticals again showed the biggest monthly gain, up 15%, with shipment values totalling $15.7bn in October compared with $13.6bn in the same month of 2012.

Paints, coatings and adhesives put up the 25th straight month of year-on-year gains with a 14% increase in shipment values, totalling $3.1bn in October, compared with $2.7bn in the same month a year earlier.

($1 = €0.74)

By: Lane Kelley
+1 713 525 2653

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