Even though Asia has increased polypropylene offers to Latin America by $60-100/mt for August, Asian prices were still very competitive in the region, said a buyer in Peru on Tuesday.
After the hike, Asian August offers to Peru were heard at $1,800/mt CFR for co-polymer and at $1,760/mt CFR for homo raffia and injection.
"We are still studying the market for August purchase but we can say Asia has a good position because the Latin producers are raising offers as well," said the source. Offers from Latin American sellers moved higher in response to higher Asian offers. Asian prices have been on an upswing over the past month as buying activity has picked up, particularly in China, sources said.
Colombian polypropylene offers to Peru jumped $70/mt over last week reaching levels of $1,940/mt CFR for homo raffia, $1,960/mt CFR for homo film and at $2,000/mt CFR for co-polymer impact.
Brazilian August resin offers to Colombia went up $100/mt over July and they were heard at $1,900/mt CFR for homo raffia and injection and at $1,950/mt CFR for co-polymer.
July polypropylene homo raffia deal price between Asia and Colombia was heard at $1,700/mt CFR Cartagena.
