01 April 2013 23:23 [Source: ICIS news]
HOUSTON (ICIS)--Polyethylene terephthalate (PET) export offers from Mexico to South America for April are declining by $100/tonne (€78/tonne), driven by the weakening resin and feedstock markets in Asia, local sources said on Monday.
Export PET from Mexico for April shipment is being offered at $1,750-1,770/tonne CFR (cost and freight) Colombia.
March PET exports were gauged at $1,850-1,870/tonne CFR Colombia.
Domestic prices in Mexico have not yet been announced, but they are also expected to fall.
PET demand is weak in Mexico, as buyers are waiting for prices to reach bottom, sources said. However, participants are expecting that the forthcoming peak soft-drink season in Mexico and the US will provide some support to the market.
PET producers in Latin America are DAK Americas, Indorama and Mossi & Ghisolfi (M&G).
($1 = €0.78)
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