24 April 2012 23:37 [Source: ICIS news]
HOUSTON (ICIS)--Polyethylene terephthalate (PET) prices in Mexico declined by $35/tonne in April, driven by softening resin and feedstock markets in Asia, sources said on Tuesday.
PET suppliers had initially attempted to roll over prices from March, but buyers resisted, citing market dynamics in Asia.
Buyers are projecting lower prices in May, in line with expectations throughout Latin America.
Market participants said demand in Mexico remains soft, as the summer is arriving slowly and temperatures are still moderate.
After the decrease in April, PET prices in Mexico are assessed at $2,320-2,410/tonne (€1,763-1,832/tonne) DEL (delivered), according to ICIS.
PET producers in Mexico are DAK Americas and Indorama.
($1 = €0.76)
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