Colombia's Ecopetrol raises LDPE prices 6%

03 September 2004 18:47  [Source: ICIS news]

HOUSTON (CNI)--Colombia’s national oil company, Ecopetrol, has increased prices of domestic low density polyethylene (LDPE) 6% effective 1 September, company sources said.

 

They told global price reporting and market intelligence service ICIS-LOR* that the hike was in response to higher prices quoted by importers of LDPE who bring products from the US, Mexico, Brazil and East Asia.

 

By equaling prices with imports, Ecopetrol expected to reduce demand pressure on the insufficient supply of domestic material.

 

The price hike had no measurable effect on demand, which was described as normal. The average price of LDPE in the domestic market is approaching $1900/tonne (Euro1576), cash price. The latest increase followed similar hikes 1 August and 17 August.

 

*ICIS-LOR is part of the same publishing group as CNI.

By: George Martin
+1 713 525 2653

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