Mexico’s Pemex increases August PE prices by 5%

18 August 2011 23:27  [Source: ICIS news]

HOUSTON (ICIS)--Mexico’s Pemex increased prices for all grades of polyethylene (PE) by 5% effective 16 August, on tight supply and a soaring US dollar, market sources said on Thursday.

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 Mexico, where several plants are down for planned maintenance.

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 Mexico.

$1 = €0.69

For more on polyethylene visit ICIS chemical intelligence

By: George Martin
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly