Market participants along South America's West Coast continue to look to the region's polypropylene producers amid tightening global supply and rising offers from Asia and the Middle East, as per sources in Platts. While offers from Asia and the Middle East have begun to trickle into the region at a higher rate, some Latin American buyers have dismissed them as non-competitive into regions like Peru, Chile and Colombia.
The market conditions have some buyers turning to neighbouring producers like Brazil's Braskem and Chile's Petroquim. In the past, market sources said, Braskem's prices have been too high and Petroquim has not had enough supply to meet regional demand. Despite the potential for prompt delivery from regional producers, countries like Peru have relied on Asia and the Middle East for lower-priced resins.
However, regional producers in Colombia, Brazil and Chile have now said firming demand is one of the drivers behind raising prices in the next few weeks. A buyer in Peru was told that a recent resin purchase came in time before the expected May increase from Petroquim.
Meanwhile, Braskem has said planned price increases in Chile are in line with international upward movements.
15-Apr-15 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}