18 August 2011 23:27 [Source: ICIS news]
The price of imported resins was also higher this week, although the hikes varied among sellers.
The Pemex price increase was supported by a tight supply of PE resins in
In addition, the US dollar has soared in the last month, allowing Pemex to increase domestic prices without losing competitiveness, a distributor said.
The US dollar went from Mexican pesos (Ps) 11.62 on 22 July, to the current Ps12.35 per dollar, making imported resins more expensive.
Prior to this week’s increase, high density PE (HDPE) blow moulding prices were at $1,312-1,484/tonne (€905-1,024/tonne) FOT (free on truck). Linear low density PE (LLDPE) butene was at $1,293-1,504/tonne, based on ICIS data.
LDPE resins were in the range of $1,652-1,808/tonne. Pemex price increases are not negotiable.
Prices had been stable since 5 July. Pemex is the only domestic PE producer in
$1 = €0.69
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