Latin American PET prices projected higher in February

17 January 2012 23:21  [Source: ICIS news]

HOUSTON (ICIS)--Latin American polyethylene terephthalate (PET) prices are expected to rise in February, in line with the trend for Asian resin and feedstocks, sources said on Tuesday.

Demand has not fully recovered from the year-end break, but PET activity in Latin America was in line with seasonal expectations, stronger during the peak bottled-drink season in the south and slower in Mexico because of colder weather, participants said.

However, rising prices for resin and feedstocks in Asia are driving sentiment in Latin American countries as participants gradually returned to their posts after the year-end holidays and extended vacations, according to industry sources.

In Brazil, price increase initiatives of $70/tonne (€55/tonne) for February PET were announced, driven by Asian market dynamics.

Meanwhile, domestic PET prices in Brazil are projected to remain in a $2,090-2,160/tonne DEL (delivered) range for the balance of January, as assessed by ICIS.

On the Pacific coast of South America, PET offers of Asian resin rose to $1,750/tonne CFR (cost and freight), but no deals were finalised at this level, local sources said. Earlier purchases were confirmed at $1,680/tonne CFR.

In Mexico, PET price increase initiatives of 3 cents/lb ($66/tonne) for January announced early this month continue to be discussed. Resin buyers said negotiations are hovering on increases of no more than 1-2 cents/lb.

PET producers in the Americas include DAK Americas, Mossi & Ghisolfi and Indorama.

($1 = €0.79)

For more on PET visit ICIS chemical intelligence

By: Ron Coifman
+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