New From PetroChem Wire . . . .
NGLs Week is PetroChem Wire's comprehensive summary of price trends, upstream and downstream costs, operations news and supply/demand forecasts. The report contains everything you'll need to understand what's happening in the NGL markets.
For more information, click here.
For all of our products and services,
US PET scrap exports plunge on China's ban; Turkey now top destination
HOUSTON, April 17, 2018 (PCW) -- US exports of PET scrap have plunged this year on sharply lower volumes to China and Hong Kong. This is due to China's Operation Sword scrap and trash import ban, which went into effect last summer.
Total PET scrap exports in Jan-Feb were 19,011 mt, down by 34,107 mt or 64% from Jan-Feb 2017, the latest US Commerce Department data show. Exports to China totaled 1,482 mt, down by 23,166 mt or 94%, while exports to Hong Kong totaled 4,374 mt, down by 17,424 mt or 80%, in the respective periods.
PET scrap exports to China and Hong Kong in 2017 totaled 156,505 mt, 70% of all US exportsl. US PET scrap exports in 2017 were valued at $80 million.
Meanwhile, Turkey has emerged as the top market for US PET scrap exports. In Jan-Feb 4,199 mt were exported to Turkey, compared to 69 mt in Jan-Feb 2017. Exports were also up to South Korea (748 mt versus 16 mt in Jan-Feb 2017) and Thailand (1,439 mt compared to 103 mt). -- Xavier A Cronin