Petrochemical producer Braskem Idesa will implement a $50/mt increase on all polyethylene grades sold in Mexico, effective June 15, according to a letter to customers obtained by S&P Global Platts June 11.
Braskem Idesa said recent market movements, the state of the industry, and increased demand in the domestic and global markets were all behind the increase.
The price hike follows an 1 cent/lb ($22/mt) increase on all polyethylene grades sold in Mexico earlier this month, sources said.
Braskem Idesa produces high-density PE as well as low-density PE grades.
The hike is in line with North American suppliers' announcements of 4 cents/lb increases for June, sources said.
Platts last assessed low density polyethylene delivered Mexico City at $935/mt on June 10, up $10 week on week, while HDPE blowmolding grade was $10 higher, in part due to higher supplier pricing.
