16 March 2010 07:40 [Source: ICIS news]
By Chow Bee Lin
SINGAPORE (ICIS news)--Polyethylene (PE) and polypropylene (PP) producers in South Korea are looking to make further inroads into the South American markets where sales can yield bigger margins compared to their traditional market in China, industry sources said on Tuesday.
Tight PE supply in South America had enabled ?xml:namespace>
Film grade HDPE and LLDPE could be sold at $1,400-1,410/tonne (€1,022-1,029/tonne) FOB (free on board)
But the same cargo could only fetch prices below $1,400/tonne FOB
A Korean PP producer said he could achieve FOB
South American buyers had been seeking block copolymer PP from alternative sources such as
Homopolymer PP was assessed on an FOB US Gulf basis at 70-72 US CTS/LB for the week ended 12 March, equivalent to around $1,540-1,584/tonne FOB US Gulf, according to global chemical market intelligence service ICIS pricing.
Despite their increased export to South America, most Korean producers said their main export market was still
South Korea was one of the top ten PE and PP exporters to China last year, having shipped out a total of 1.3m tonnes of PE and 1.1m tonnes of PP to that market.
($1 = €0.73)
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