Argentina and Brazil PET prices increase on higher feedstock
Luly Stephens
05-Mar-2019
HOUSTON (ICIS)–March polyethylene terephthalate (PET) prices in Argentina and Brazil increased by $50/tonne on the back of rising feedstock prices.
Prices for bottle chips in Argentina edge up to $1,600-1,750/tonne delivered (DEL) while resin prices in Brazil moved up to $1,500-1,580/tonne DEL.
Suppliers were able to implement the increase despite the low buying interest in Argentina resulting from the economic crisis from which the country has been trying to emerge.
Likewise, sellers in Brazil implemented the hike although demand has shown slight improvement thanks to the Carnival celebrations in the country. Demand is expected to decline after the celebrations and the end of the warm summer season.
Prices for virgin bottle grade pellets in other Latin American countries may also show an uptrend in the coming weeks as producers and buyers are discussing March values.
DAK Americas and Indorama are PET producers in Mercosur.
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