EU November OX exports more than double year on year 2013: Eurostat

21 January 2014 10:55 Source:ICIS News

LONDON (ICIS)--EU exports of orthoxylene (OX) to the rest of the world more than doubled in November 2013 from the same period the year before, data from European statistics agency Eurostat showed on Tuesday.

Meanwhile, imports into the EU were down by nearly 5,500 tonnes year on year.

The European OX market remains balanced overall, as evidenced by the comparatively small volumes moving in and out of the region. However, there had been some interest in material from overseas buyers in November 2013.

Traders had been looking at arbitrage opportunities into Asia, India and the US market, which would be workable with European material priced in the low $1,300s/tonne FOB (free on board).

The Asian market in particular was attractive for European exporters in November last year, with regional supply tightened by weak co-product paraxylene (PX) output.

EU OX import/export data from Eurostat (units: tonnes)

Period

Import

Export

Nov 2012

8,537

3,108

Nov 2013

3,045

7,084

Volume difference

5,492

3,976

% change year on year

-64%

128%

Eurostat import/export data is subject to revision as more detailed information becomes available.

By Truong Mellor