Mexico’s Pemex increases December PE prices

15 December 2007 00:22  [Source: ICIS news]

HOUSTON (ICIS news)--Mexico’s Petroleos Mexicanos (Pemex) increased prices for all grades of polyethylene (PE) this week to catch up with rising imports amid tight domestic supply, a distributor said on Friday.

Prices of low density polyethylene (LDPE) were up by 3% for film grades and by 4% for injection and extrusion grades, the sources said.

High density polyethylene (HDPE) prices were increased by 5%, while all grades of linear low density polyethylene (LLDPE) were increased by 2%. The increases were effective on Thursday.

With the increases, LDPE price reached a minimum of $1,850/tonne and HDPE was at $1,640/tonne and higher, according to data from global chemical market intelligence service ICIS pricing.

Imported PE grades sold in Mexico through distributors also had price increases averaging about 4%.

Supply was tight in Mexico because of technical difficulties at some Pemex facilities. The Morelos swing plant was expected to restart by 19 December, the source said.

Demand remained sluggish as players strove to unload inventories at the end of the year, but the tight inventories have revived buying interest, a source said.

By: George Martin
+1 713 525 2653

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