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Plunge in US PET scrap exports due to demand drop from China, HK
HOUSTON, May 16, 2016 (PCW) -- A 45.6% drop in US exports of PET scrap in March is largely due to a 51% fall in exports to China and 43% drop to Hong Kong, the latest USA Trade Online data show.
China and Hong Kong in March together accounted for 87% of all US PET scrap exports, which totaled 17,205 metric tons, down 45.6% from March 2015.
US PET scrap exports in 2015 totaled 275,205 MT valued at $103.1 million, down from 368,766 MT valued at $138.2 million in 2014.
A major reason for the drop in PET scrap exports to China is an increase in recycling in the country in recent years.
Exports in March were also lower to Vietnam, Indonesia, Japan and Italy, but were higher to several countries, including Samoa, the UK, Pakistan and Ecuador. -- Xavier A. Cronin
Data from USA Trade Online