06 July 2012 22:32 [Source: ICIS news]
HOUSTON (ICIS)--Mexico’s sole polypropylene (PP) producer, Indelpro, is implementing a price rollover in July this week, reflecting the steady nature of feedstock propylene, a company source said on Friday.
US propylene contracts for July settled flat with June, on support from a small firming in spot prices last month, sources said.
The rollover keeps polymer-grade propylene (PGP) contracts at 52 cents/lb ($1,146/tonne, €928/tonne) and chemical-grade propylene (CGP) at 50.50 cents/lb.
PP demand in Mexico continued to improve as buyers perceive that prices may not go any lower.
Exports to Central America continue to flow, as customers in the region seek to replenish stocks.
There is strong competition among regional producers seeking to protect market share.
Mexico homopolymer prices are in the range of $1,554-1,782/tonne FOT (free-on-truck), according to according to ICIS data.
($1 = €0.81)
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