EU PX exports up 41% in the first half of 2013: Eurostat

22 August 2013 10:23 Source:ICIS News

LONDON (ICIS)--EU paraxylene (PX) exports have risen by 41% during the first six months of this year compared to the same period of 2012, according to Eurostat data.

From January to June this year, the EU exported 75,435 tonnes of PX, up from 53,447 tonnes exported in the first half of 2012.

June in particular saw a sharp rise in exports year on year, with 22,324 tonnes leaving the EU compared to only 50 tonnes the previous year.

Weak derivative offtake in 2013 has seen European sellers look to ship volumes abroad in order to keep domestic supply balanced.

“The numbers really reflect the poor health of the downstream markets this year,” said one European supplier. “Nobody is running at full rates.”

The significant increase in exports for the first half of 2013 are also indicative of a stronger domestic market in 2012, when Portugal’s Artlant started running its purified terephthalic acid (PTA) plant and pulling on feedstock PX.

By Truong Mellor