21 February 2012 22:20 [Source: ICIS news]
HOUSTON (ICIS)--Polyethylene terephthalate (PET) price increases will likely be at least partially implemented in Mexico for March on producers’ initiatives of 3 cents/lb and 4 cents/lb, resin buyers in Mexico said on Tuesday.
Buyers said a March hike would probably be implemented between 2–3 cents/lb ($44–66/tonne, €33–50/tonne) supported by the firm global PET market, particularly in Asia.
Also supporting the increase initiative in Mexico, pre-form and bottle makers are in the early stages of inventory building prior to the peak soft-drink season in North America.
Prices for PET resin are also expected to rise in March from February in other Latin American countries on similar dynamics, according to regional sources.
Domestic PET prices in Mexico are assessed at $2,300–2,390/tonne DEL (delivered), according to ICIS.
PET producers in Mexico are DAK Americas and Indorama.
($1 = €0.76)
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