15 January 2013 23:07 [Source: ICIS news]
HOUSTON (ICIS)--Mexico’s sole polyethylene (PE) producer Pemex increased the price of all grades of PE, with some going up by as much as 6% effective 15 January, a large distributor said on Tuesday.
Low density polyethylene (LDPE) prices had the largest increases with one grade rising by 6%. Other grades of LDPE went up by only 5%.
Pemex increased linear low density polyethylene (LLDPE) prices by 5% for all grades.
High density polyethylene (HDPE) blow moulding prices had the smallest increase at 3%.
Prices from importers and distributors of US material have been higher in January, with at least 5 cents/lb ($110/tonne, €83/tonne) sought for the month.
Demand has not been very strong in Mexico early in January, particularly when buyers were still in doubt about the final implementation of nominated price increases.
However, market participants expect January sales volumes to by better than December’s.
The announcement by Pemex has solidified the increases sought by sellers of imported PE material.
Prior to today’s increase, Mexico’s domestic LDPE prices were at $1,479-1,597/tonne FOT (free on truck), while LLDPE prices were in the range of $1,336-1,582/tonne, according to ICIS data. HDPE blow moulding prices were at $1,462-1,534/tonne FOT, according to ICIS data.
Pemex is the only producer of PE products in Mexico.
($1 = €0.75)
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