16 July 2013 20:10 [Source: ICIS news]
HOUSTON (ICIS)--Polyethylene terephthalate (PET) prices are stable in Brazil in mid-July despite the recent social unrest, sources said on Tuesday.
Industry participants in Brazil said that last week’s street disturbances were not repeated early this week. Dock-worker strikes have ended and street demonstrations protesting corruption and the lack of reforms in health, transportation and education were not evident this week.
The Brazilian PET market is steady on balanced fundamentals and stable feedstock costs and in line with the similar trend in the rest of Latin America and in Asia, sources said.
Discussions about raising import duties in Brazil have not been heard in the past few days, as the concern about the threat of rising inflation took centre stage, industry participants said. No comment was available this week regarding two public consultations in Brazil on the import duties applied to PET resin imports and on PET bottle preforms.
Market sources said that demand is not meeting expectations anywhere in Latin America, whether during the peak soft-drink season in Mexico or the off season in Argentina or Brazil.
PET domestic prices in Brazil are gauged at $2,010-2,110/tonne (€1,548-1,625/tonne) (delivered).
PET producers in Latin America are Mossi & Ghisolfi (M&G), Indorama and DAK.
($1 = €0.77)
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