Mexico PET prices set to soften on global trend, improved supply

12 July 2011 23:39  [Source: ICIS news]

HOUSTON (ICIS)--Polyethylene terephthalate (PET) prices in Mexico were set to decline later this month or in early August, driven by global trends and by gradually improving supply in the US and Mexico, buyers said on Tuesday.

Easing resin availability as the peak season slowed with the beginning of the rainy season in Mexico is resulting in downward pressure on PET prices, following the rollover from June to July, according to buyers in the country.

PET suppliers had resisted downward price pressure from other regions, citing strong demand in the US and Mexico during the peak season, as well as snug PET resin supply in North America as a result of BP’s declaration of force majeure on feedstock PTA supply and Indorama’s on PET.

Domestic PET prices in Mexico are assessed at a minimum of $2,095/tonne (€1,487/tonne) DEL (delivered).

($1 = €0.71)

For more on PET visit ICIS chemical intelligence

By: Ron Coifman
+1 713 525 2653

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