US May PET exports fall 9.5%, imports rise 25% year on year

11 July 2014 17:59 Source:ICIS News

NEW YORK (ICIS)--US polyethylene terephthalate (PET) exports for May fell by 9.5% whereas imports jumped by 25% year-on-year, according to trade date made available this week by the US International Trade Commission (ITC).

Year-on-year exports declined to 22,907 tonnes in May 2014 from 25,311 tonnes in May 2013. Month-on-month, exports were also down, falling 8.5% from 25,022 tonnes in April.

Top export destinations were Canada, Mexico, China and the Netherlands, which together accounted for 68% of total May exports.

Exports to Canada, Mexico and the Netherlands declined year-on-year. Material shipped to Canada fell to 5,478 tonnes in May 2014 from 6,877 tonnes tonnes in the same month last year. Exports to Mexico fell to 3,617 tonnes in May from 5,310 tonnes in May last year, while exports to the Netherlands were down to 3,168 tonnes in May from 4,145 tonnes in the same month last year.

In contrast, exports to China more than doubled to 3,222 tonnes in May 2014 from 1,561 tonnes in May 2013.

Meanwhile, year-on-year imports jumped to 54,208 tonnes in May 2014 from 43,379 tonnes in May 2013. Month-on-month imports also rose, showing a 4.8% increase from 51,710 tonnes in April.

The US imported PET predominantly from Mexico, China and Canada, which collectively accounted for 76% of total May imports.

Imports from Mexico and China jumped from last year to 14,937 tonnes and 14,353 tonnes respectively in May 2014 from  8,563 tonnes and 6,699 tonnes respectively in May 2013.

Imports from Canada were down slightly to 12,120 tonnes in May 2014 from 12,697 tonnes in the same month last year.

PET in the US market is primarily used to produce plastic beverage bottles, rather than textiles as the latter is a small outlet for PET in the US, compared to other world regions.

PET producers in the US include DAK Americas, Indorama Ventures, Mossi & Ghisolfi (M&G) and Nan Ya Plastics.

US PET

May ‘13

May ‘14

% chg

YTD 2013

YTD 2014

% chg

Total exports (tonnes)

25,311

22,907

-9.5

115,238

124,697

8.2

Total imports (tonnes)

43,379

54,208

25

196,447

237,746

21

By Feliza Mirasol