14 May 2013 23:15 [Source: ICIS news]
HOUSTON (ICIS)--Mexico’s polyethylene terephthalate (PET) domestic and export prices for May largely rolled over from April, tracking steadier conditions in resin and feedstock markets in Asia, sources said on Tuesday.
However, holdouts to the May agreements were heard in the domestic market, arguing for a decrease for May.
Mexico’s high season for soft drinks is in the initial stages, and demand is projected to grow as the weather warms. However, rains, lower-than-expected temperatures and the continuing effects of the economic downturn continue to slow demand in Mexico, sources said.
Changes to a water-drinking culture are also affecting resin consumption. PET bottles are being refilled instead of discarded after each use amid environmental concerns about disposal and recycling of plastic bottles, according to participants.
Export prices from Mexico are assessed at $1,700-1,735/tonne (€1,309-1,336/tonne) CFR (cost and freight) Colombia.
Domestic prices for bottle-grade PET in Mexico are assessed at $2,090-2,190/tonne DEL (delivered).
PET producers in Latin America are DAK Americas, Indorama and Mossi & Ghisolfi.
($1 = €0.77)
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