18 December 2012 23:30 [Source: ICIS news]
HOUSTON (ICIS)--A polyethylene terephthalate (PET) producer in Mexico has announced a 5 cent/lb ($110/tonne, €84/tonne) hike for January resin for the domestic and export markets, following the November-to-December rollover, sources said on Tuesday.
January PET prices should rise on higher feedstock paraxylene (PX) costs as well as firming prices in Asian and US PET markets, producers and buyers said.
Domestic PET prices in Mexico are projected to remain unchanged through the end of December at $2,060-2,160/tonne DEL (delivered).
PET prices were up by 3 cents/lb in November and by 4 cents/lb in October.
Sources said PET demand is slower than expected for the off-season.
PET producers in Latin America are DAK Americas, Indorama and Mossi & Ghisolfi.
($1 = €0.76)
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