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US PET scrap exports surge to China, Vietnam, Malaysia
HOUSTON, July 10, 2017 (PCW) -- US PET scrap exports totaled 124,470 metric tons valued at $42.3 million through May, up 36,758 mt or 42% from Jan-May 2016, the latest US Commerce Department data show.
The increase was largely due to a surge in exports to Southeast Asia.
Exports to the top destination, China, were 60,592 mt in Jan-May 2017, up 19,137 mt or 46% from the 2016 period. Exports to Hong Kong totaled 41,143 mt in Jan-May 2017, up 6,113 mt or 17%. China and Hong Kong together accounted for 81.7% of these exports in the first five months of 2017.
The number three export destination was Vietnam at 7,791 mt , up 5,600 mt or 256% from Jan-May 2016; Malaysia was fourth at 6,382 mt, up 2,927 mt or 88% from the 2016 period. Exports to India, number five in export volume in Jan-May 2017, totaled 2,781 mt, up 1,773 mt or 176% from Jan-May 2016.
Exports through May of this year went to 43 countries and varied in quantity from a few kilograms to thousands of metric tons. On the lower side, for instance, exports to Israel totaled 88 mt in Jan-May 2017, up from 251 kg in Jan-May 2016.
Full year 2016 US PET scrap exports totaled 252,403 mt valued at $87.3 million. -- Xavier A. Cronin