Mexico's only polypropylene producer Indelpro decreased offer prices by 5 cents/lb Friday for the domestic market, a company source said Monday.
"Propylene prices in Mexico dropped 13 cents/lb, and demand is better than in May, but still slow with very competitive offers coming from the international market," the source said.
Following the drop in prices, Indelpro has offered since last Friday for the domestic market at 78 cents/lb CIF homo raffia and injection bagged, 79 cents/lb CIF for homo film bagged, 82 cents/lb CIF for co-polymer bagged and at 83 cents/lb CIF for random.
It is the second time in June Indelpro has lowered its prices, which have declined by a total of about 15 cents/lb in a month.
The company dropped PP offers by 9-10 cents June 1.
US offers to Mexico were heard this week around 63-65 cents/lb DAF Laredo bulk for homo raffia and injection and at 65-67 cents/lb DAF Laredo for co-polymer.
For the Mexican export market, Indelpro reduced the offers to the Andean countries (Ecuador, Peru and Colombia) by $50/mt, reaching levels of $1,550-1,600/mt CFR for homo raffia and injection and at $1,650-1,700/mt CFR for co-polymer.
In the first week of June, Indelpro's PP offers slipped $100/mt, summing now a drop of $150/mt total for June.
