15 October 2010 19:21 [Source: ICIS news]
HOUSTON (ICIS)--Mexico's sole polypropylene (PP) producer, Indelpro, reduced the price of all grades of PP by 1.5 cents/lb in line with a similar reduction in feedstock propylene (C3), a company source said on Friday.
With the reduction, domestic prices for homopolymers (raffia and injection grades) were in the range of 79-82 cents/lb ($1,742-1,808/tonne, €1,237-1,284/tonne) FOT (free on truck), with copolymers selling a few cents higher.
Initially, the plan for October was for a rollover, but conditions were slowly changing with cheaper C3.
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Demand was softer in October in comparison with the two prior months. This was attributed to buyers adopting a wait-and-see attitude now that prices are falling.
($1 = €0.71)
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