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HOUSTON (ICIS)--A 2 cent/lb increase announcement for March polyethylene terephthalate (PET) in Mexico was withdrawn, driven by a drop in resin and feedstock prices in Asia last week, a source said on Monday.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