South American PET prices likely to fall in July

28 June 2011 23:29  [Source: ICIS news]

HOUSTON (ICIS)--July polyethylene terephthalate (PET) prices in South America will continue to decline, tracking weak global resin and feedstocks markets in Asia, sources said on Tuesday.

However, market talk in Mexico points to price stability because of strong domestic seasonal demand and direction from US prices.

North American resin and raw material supply remains tight as a result of recent forces majeures at purified terephthalic acid (PTA) producer BP and at PET makers Indorama and Wellman.

In South America, on the other hand, the cold weather off season, with freezing temperatures reported in parts of Argentina and Brazil, has driven down demand for bottled drinks, according to sources.

June PET domestic prices stand at $2,200-2,300/tonne DEL (delivered) in Argentina and at $2,270-2,330/tonne DEL in Brazil, as assessed by ICIS.

 For more on PET visit ICIS chemical intelligence

By: Ron Coifman
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