21 October 2013 23:30 [Source: ICIS news]
HOUSTON (ICIS)--Polyethylene terephthalate (PET) markets in Latin America are expected to weaken in November-December, lagging the continuing softening trend for resin and feedstocks in Asia, sources said on Monday.
However, regional participants are projecting PET prices to remain steady through the end of October.
PET prices in Latin America were flat from September with the exception of Argentina, where values rose by $62/tonne this month, lagging earlier firming in Asia.
While October PET prices were stable from September in PET-producing Brazil, Mexico and Colombia, prices in resin-importing countries along the Pacific coast of South America were assessed weaker at $1,420-1,450/tonne (€1,037-1,059/tonne) CFR (cost and freight) toward the end of October, down from $1,480-1,500/tonne CFR in late September.
PET business is good in Brazil, sources said, as expected for the peak bottled-drink season in South America, while cooling weather in Mexico is resulting in weaker demand for soft drinks, bottles and PET.
PET producers in Latin America are Mossi & Ghisolfi (M&G), Indorama and DAK.
($1 = €0.73)
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