Mexico's only polypropylene producer Indelpro dropped its offer to the domestic market by 5 cents/lb ($110/mt) this week, a company source said Wednesday.
"Demand is very slow at the moment, and propylene contract prices were stable this month in Mexico for May. We are studying the international market to learn if we are going to have another fall in prices soon," the source added.
After the 5 cents/lb down, Indelpro PP offers to the Mexican domestic market were at 94 cents/lb CIF for homo raffia and injection, 95 cents/lb CIF for homo film and at 99 cents/lb CIF for co-polymer impact (bagged).
A resin buyer in Mexico said they bought homo-polymer from US last Friday at 72 cents/lb DAF Laredo bulk.
Two weeks ago the price was 78 cents/lb DAF Laredo bulk.
For the Mexican PP export market, the source at Indelpro said the price movement for May was $100/mt down to the Andean Countries, Central America and Caribbean.
Following the drop, Indelpro was offering PP to the export market at $1,770/mt CFR for homo raffia and injection and at $1,870/mt CFR for co-polymer.
Colombian May offers to Centro America and Andean Countries were higher $20-60/mt at $1,830/mt CFR for homo raffia and at $1,890/mt CFR for co-polymer.
Indelpro PP plants in Altamira city Tamaulipas state, were reported working at full rates this week at after the maintenance shutdown.
The maintenance shutdown started on April 15 and lasted two weeks.
The two polypropylene plants in Mexico together have the nameplate capacity of 690,000 mt/year.
According to the company source, the Mexican domestic market was not affected by the shutdown because they have been building inventories for the event since January.
