Mexico PET March price hike withdrawn on weaker Asian markets

05 March 2013 00:09  [Source: ICIS news]

HOUSTON (ICIS)--A 2 cent/lb increase announcement for March polyethylene terephthalate (PET) in Mexico was withdrawn, driven by a drop in resin and feedstock prices in Asia last week, a source said on Monday.

March domestic business was agreed at a rollover from February at $2,180-2,280/tonne DEL (delivered).

PET domestic prices rose in February from January by 2.5-3.0 cents/lb ($55-66/tonne, €42-51/tonne) amid moderate demand. February export prices were up by 2 cents/lb into Colombia and 3 cents/lb into Venezuela.

In January, PET prices rose by 3 cents/lb for domestic material and by $110-120/tonne for exports.

PET demand in Mexico is assessed as moderate, in line with expectations for the soft-drink low season.

PET producers in Latin America are DAK Americas, Indorama and Mossi & Ghisolfi.

($1 = €0.77)

By: Ron Coifman
+1 713 525 2653

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