Houston (Platts)--23May2011/548 pm EDT/2148 GMT
Resin offers from Asia to Latin America could push producers to reduce polyethylene and polypropylene offers for June, market sources said Monday.
A source at Brazilian producer Braskem said the company could drop polyethylene offers next month to improve demand and better compete with the international market.
"We are still studying a possible offer price reduction, mainly on LDPE for Mercosur (Paraguay, Uruguay and Bolivia) because we know offers coming from Asia are cheaper, and we lost some deals because of that," the source said.
In early May, Braskem increased polyethylene offers to Paraguay, Uruguay and Bolivia by $100/mt and polypropylene by $150/mt. The hikes put Brazilian PE offers at $1,800/mt CFR for HDPE injection, blowmolding and film, $1,800/mt CFR for LLDPE butene and at $1,900/mt CFR for hexene. LDPE offers were herd at $2,250/mt CFR.
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