Mexico's ethylene contract price went slightly up for January, said a source at Pemex.
"The January increase in dollars was just 1 cents/lb ($22/mt), but for February we expect to have a bigger price increase," added the company's source.
After the hike, the ethylene contract price for the Mexican market was heard at 58 cents/lb ($1,259/mt FOB).
On the Mexican ethylene export side, the company might have some surplus to export in March if maintenance shutdowns on PE plants occur as programmed.
Downstream, despite the small hike on the raw material prices, Pemex polyethylene offers increased 4% last week for the Mexican domestic market. "The polyethylene offer price jump was related to market conditions, mainly because US was raising export prices as well," said a second company source.
Following the increase, Pemex was offering resin to its domestic market at 60 cents/lb FOB Mexico City bulk ($1,323/mt) for HDPE injection, 59 cents/lb FOB Mexico City bulk ($1,300/mt) for HDPE blow molding, 62 cents/lb FOB ($1,367/mt) Mexico City bulk for LLDPE butene and at 64 cents/lb FOB ($1,410/mt) Mexico City bulk for LDPE film.
US offers to Mexico were heard 3 cents/lb higher this week and at $1,250/mt DAF Laredo bulk for HDPE blow molding, $1,280/mt DAF Laredo for HDPE injection, $1,400/mt DAF Laredo bulk for LDPE film and at $1,300/mt DAF Laredo for LLDPE butene.
