13 March 2012 21:34 [Source: ICIS news]
HOUSTON (ICIS)--March polyethylene terephthalate (PET) prices in Mexico rose by 2.5 cents/lb from February, supported by higher raw material costs and market direction from Asia, sources said on Tuesday.
However, producers reduced initial 4 cents/lb hike proposals for March to 3 cents/lb and finally to 2.5 cents/lb, because of buyer resistance, according to participants.
March demand has been slow as expected, but with the bottled-drink season approaching, PET business should start improving in April and May, sources said.
Domestic PET prices in Mexico are assessed at $2,355-2,445/tonne (€1,790-1,858/tonne) DEL (delivered), according to ICIS.
PET producers in Mexico are DAK Americas and Indorama.
($1 = €0.76)
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