Korean polyethylene offers to Peru have risen $20-30/mt over last week's levels, a Peruvian buyer said Wednesday.
While the buyer said Asian offer prices have risen every week this month, they still remain competitive in the Peruvian market.
Following the latest increase, Korean resin offers to Peru were heard at $1,610/mt CFR for HDPE film, $1,650/mt CFR for LDPE film, $1,560/mt CFR for LLDPE butene and $1,640/mt CFR for HDPE injection.
Polyethylene bids in Peru were heard at about $1,570/mt CFR for HDPE film, $1,610/mt CFR for LDPE film and at $1,520/mt CFR for LLDPE butene.
"We have inventories, but we should buy some polyethylene from Korea because of [talk that] Asian offers are going to increase again for March," said a second Peruvian buyer.
US polyethylene offers to Peru this week were too high to spark buyer interest at $1,700/mt CFR for LLDPE butene, $1,700/mt CFR for HDPE film and at $1,720/mt CFR for LDPE film ($70-140 above comparable Asian offers). .
Brazil was offering polyethylene to the Andean countries in February, despite low availability due to the shutdowns Braskem had at the end of last year. February Brazilian offers to Peru were at $1,600/mt CFR for HDPE film and injection, $1,560/mt CFR for HDPE blow molding and LLDPE butene.
"We are still studying the market, but for March we are very sure the offers from Brazil to the Andean area are going to have an offer price increase. Maybe we are going to have more availability for the next month," a Braskem source said.
