Illegal imports continue to impact HFC sales
USA: Illegal imports of HFC refrigerants into the EU are said to have contributed to a 6.7% fall in sales of Chemours’ fluoroproducts business in the third quarter of 2019.
The refrigerant manufacturer’s fluoroproducts segment net sales in Q3 were $636m, down from $682m in the same quarter in 2018. The continued impact of illegal imports, softer base refrigerants demand, and macro-economic weakness were said to have more than offset sales of its mobile refrigerant R1234yf and the increased sales of high-grade fluoropolymers.
Total net sales for the group were $1.4bn in comparison to $1.6bn in Q3 of 2018. Results were driven primarily by lower volume in Chemours’ Titanium Technologies business and lower volume and price in Fluoroproducts.
Price and volume for its Fluoroproducts declined 4% and 2%, respectively, compared to 2018. Segment adjusted EBITDA of $122m decreased 33% versus the prior-year quarter, primarily due to lower net sales and lower F-gas quota sales.
Illegal imports hit Chemours refrigerant sales – 1 August 2019
USA: Chemours has blamed the impact of illegal HFC refrigerant imports into Europe for an 11% dip in net sales in its fluoroproducts segment in the second quarter of 2019. Read more…