05 June 2012 23:58 [Source: ICIS news]
HOUSTON (ICIS)--Polyethylene terephthalate (PET) domestic prices for June in Mexico are being discussed at a 4 cent/lb decrease, driven by lower prices for resin and feedstocks in Asia, sources said on Tuesday.
The June price decline for PET is now expected to be greater than the 2-3 cent drop that was discussed at the end of May, participants said, and agreement is expected by the middle of June.
May PET domestic prices in Mexico are assessed at $2,280-2,370/tonne (€1,824-1,896) DEL (delivered), after dropping by 1.5-2.0 cents/lb from April.
Resin purchases in Mexico are being kept to a minimum as the peak bottled-drink season gets underway, on concerns of further price weakening in July.
In Argentina and Brazil, domestic PET prices for June fell by $30/tonne, amid weak demand during the off-season for soft drinks.
PET producers in Latin America are DAK Americas, Indorama and Mossi & Ghisolfi.
($1 = €0.80)
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