Latin America March PET proposed higher on rising Asian prices

HOUSTON (ICIS)--Fresh price increase initiatives for polyethylene terephthalate (PET) are surfacing in March for Latin America, driven by rising resin and feedstock prices in Asia, regional sources said Tuesday.

Proposals for the PET hikes are emerging at different levels depending on country, according to participants.

PET prices in parts of Latin America had already increased in February.

February prices were up by $88/tonne (€67/tonne) in Mexico, but decreased or rolled over in Argentina and Colombia, respectively.

Prices for March will also be firming in Mexico, Argentina and Colombia, according to local participants, but the amounts of the hikes have not yet surfaced.

PET demand in the region is steady and in line with seasonality, participants said.

Domestic PET prices in Argentina are assessed at $1,920-2,020/tonne DEL (delivered), according to ICIS.