06 November 2008 22:17 [Source: ICIS news]
HOUSTON (ICIS news)--Petroleos Mexicanos (Pemex) reduced prices for all grades of polyethylene (PE), effective on 6 November, to compete with cheaper imports, a distributor said on Thursday.
Currency moves were not a factor in the adjustment as the US dollar has been trading steadily at about Mexican peso (Ps) 13.
The price of low density PE (LDPE) for film applications (without additives) was reduced by 5%, and a similar percentage was applied to linear low density PE (LLDPE) and high density PE (HDPE) for blow moulding and injection applications, the source said.
Before the reduction, the price of LDPE in Mexico was $1,905-1,955/tonne DEL (€1,467-1,505/tonne), according to global chemical market intelligence service ICIS pricing.
Prices for imported plastic resins sold in Mexico by agents and distributors declined by as much as 27% for some grades and no less than 17% for others.
Pemex reacted to the large decline in imported PE prices even though scheduled plant maintenance has constrained domestic supplies.
($1 = €0.77)
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