Korean polypropylene offers to Peru increased $40/mt over last week, reaching $1,650/mt CFR for homo-polymer and $1,700/mt CFR for co-polymer, market players said Tuesday.
"Even though we are seeing an offer price increase from Korea, we should buy resin from them because they still have good prices. India was offering homo-polymer at the same price as Korea but with longer delivery times," said a buyer in Peru.
Resin delivery time from India to Peru was 60 days, while it was 35 days from Korea.
Polypropylene bids in the Peruvian market were around $1,620/mt CFR for homo-polymer and at $1,670/mt CFR for co-polymer.
Colombian February polypropylene offers to Peru were $190-200/mt more expensive than Asia at $1,840/mt CFR for homo-raffia, $1,860/mt CR for homo-film and $1,900/mt CFR for co-polymer.
The European homo-polymer offer to Peru was heard at $1,700/mt CFR, while the US was offering higher at $1,950/mt CFR.
Brazil was offering resin during February with very low availability to the Andean countries due to programmed maintenance shutdowns Braskem had in December.
February Brazilian offers to Peru were heard at $1,650/mt CFR for homo-polymer and $1,700/mt CFR for co-polymer.
