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PET imports surge 45% in Jan-Nov 2018
HOUSTON, February 14, 2019 (PCW) – US imports of prime PET totaled 872,758 metric tons in Jan-Nov 2018, up by 269,389 mt or 45% from Jan-Nov 2017, the latest USA Trade Online data show. The value of these imports in Jan-Nov 2018 was $1.1 billion, up from $646.1 million in the 2017 period.
New import sources last year included South Africa at 33,452 mt in Jan-Nov 2018 and none in 2017. Imports from several other countries also surged, including Russia at 41,641 mt and 2,205 mt, and Turkey at 53,104 mt and 708 mt in the 2018 and 2017 periods. Imports from China were 14,343 in Jan-Nov 2018, up from just 54 mt in Jan-Nov 2017. Notable drops in imports included Brazil at 5 mt in Jan-Nov 2018 compared to 53,790 mt in Jan-Nov 2017, and Indonesia at 39,063 mt and 123 mt, in the respective periods.
The top source of imports in the first 11 months of 2018 was Mexico at 281,910 mt, or 32% of the total, up by 35% from Jan-Nov 2017.
The US remains a top destination for PET produced around the world because of the price – currently about 60-65 cpp ($13,224-$14,326/mt), excluding delivery costs from ports – and strong demand for consumer-sector bottles, containers and packaging made of PET. – Xavier A Cronin