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PET scrap exports down 54% on China ban; surge to Turkey, Thailand
HOUSTON, July 9, 2018 (PCW) -- US exports of PET scrap totaled 58,546 metric tons in Jan-May, down by 65,766 mt or 53% from Jan-May 2017, according to the latest US Commerce Department data.
The exports were valued at $23.9 million in Jan-May of this year compared to $42.2 million in the 2017 period.
The main reason for the drop was China's ban on plastic and other scrap (and assorted rubbish) put in place last fall. US PET scrap exports to China in the first five months of this year totaled 4,056 mt, down from 60,538 mt in the 2017 period.
Exports to Hong Kong, a major destination for scrap bound for mainland China, were also down sharply: 12,162 mt versus 41,058 mt in the respective periods.
China and Hong Kong collectively accounted for 82% of all US PET scrap exports in Jan-May 2017; in the 2018 period this was down to 27% of the total.
Malaysia through May of this year was the second top destination of US PET scrap exports at 11,241 mt, up by 4,860 mt or 76% from the 2017 period. Number three was Turkey, at 6,323 mt compared with 540 mt in Jan-May 2017. Exports to Thailand were 6,015 mt in Jan-May 2018 versus 367 mt in Jan-May 2017. -- Xavier A. Cronin