13 November 2012 12:06 [Source: ICIS news]
RIO DE JANEIRO (ICIS)--Mexico’s sole polypropylene (PP) producer, Indelpro, increased prices for all grades by 4 cents/lb in November, a company source said on Tuesday at the sidelines of the 32nd Latin American Petrochemical Association (APLA) annual meeting.
Although there has been no settlement of the propylene contracts in the US Gulf, the benchmark for the region, nominations have been heard at plus 5 cents/lb ($110/tonne, €87/tonne) and plus 7 cents/lb.
Market participants envisage that propylene contracts may settle at slightly lower levels.
Demand for PP has picked up in Mexico with recent stability in feedstock prices.
In addition, demand from Central America remains strong, with fewer offers of Asian product, the source said.
The APLA conference ends on Tuesday.
($1 = €0.79)
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