01 July 2013 23:24 [Source: ICIS news]
HOUSTON (ICIS)--Polyethylene terephthalate (PET) prices in Latin America are rolling over in July from June, in line with the trend in Asia, regional sources said on Monday.
PET prices in the region were also flat from May to June.
Industry participants said virgin PET demand was softer than expected, whether during the off-season for bottled drinks in South America or during the peak season in North America, suggesting that increased substitution with recycled PET (R-PET) was playing a key role in the trend.
In Argentina and Brazil, July PET prices are flat from June, while both countries are in the low season for soft drinks.
On the Pacific coast of South America, Asian PET offers remained at stable levels amid moderate off-season activity, sources said.
In Brazil, street demonstrations are continuing because of popular discontent over issues involving corruption, political reform, health, transportation and education. However, the unrest is not affecting the domestic PET market, sources said.
PET domestic prices in Brazil are assessed at $2,010-2,110/tonne (€1,548-1,625/tonne) DEL (delivered).
PET producers in Latin America are Mossi & Ghisolfi (M&G), Indorama and DAK.
($1 = €0.77)
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