"The only resin that the offer price wasn't on the rise was LDPE due to the fact that during September offers were increased by Reals 500/mt, and we decided to start the month without changing the price," the source said.
Following the increase, October polypropylene offers for the Brazilian domestic market were heard at Real 4,200-4,300/mt FOT for homo raffia and injection, Reals 4,300-4,400/mt FOT for homo film and at Reals 4,400-4,500/mt FOT for co-polymer.
HDPE offers were at Reals 4,150-4,250/mt FOT for blowmolding, film and injection, Reals 4,450-4,550/mt FOT for LDPE film.
Resin demand in the Brazilian domestic market was reported as healthy since historically September and October are strong months when clients are buying for the end of the year festivities.
Polypropylene and LDPE were still short in Latin American markets causing buyers to worry about an even tighter situation when the Braskem's 40 day steam cracker maintenance begins November 4
The Brazilian steam cracker is responsible for 55% of olefins production in the Bahia state, and has a nameplate capacity of 700,000 mt/year of ethylene.
Along with the cracker the company's 250,000 mt/year LDPE and 250,000 mt/year HDPE plants will also be shutdown.
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