Mexico’s Pemex increases PE prices

28 January 2009 22:19  [Source: ICIS news]

HOUSTON (ICIS news)--Petroleos Mexicanos (Pemex) has increased prices for all grades of polyethylene (PE) amid more expensive imports from the US, a company distributor said on Wednesday.

On average, Pemex increased the price of linear low density PE (LLDPE) by 5.41% and the price of high density PE (HDPE) for blow moulding applications by 4.75%. Th increases were made effective on Tuesday.

Pemex increased the price of low density PE (LDPE) by an average of 5.82%, the distributor said.

The move was Pemex's first price increase for the year. Prices had been cut sharply in November and December, when most producers and distributors were trying to unload expensive inventories.

Before the increase, the price of LDPE in Mexico averaged $1,040-1,090/tonne (€790-828/tonne) FOT (Free on Truck) and $945-995/tonne for HDPE blow moulding material, according to global chemical market intelligence service ICIS pricing.

Import prices had steeper increases on the same date, ranging from 6% to about 15%, depending on grade and producer. Offers of bulk PE for February delivery at the border were also rising about 4 cents/lb and more, according to market sources.

($1 = €0.76)

For more on polyethylene visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect

By: George Martin
+1 713 525 2653

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly