28 February 2007 23:37 [Source: ICIS news]
HOUSTON (ICIS news)--Colombia’s polyethylene maker Ecopetrol has raised prices for low density polyethylene (LDPE) by 3.5% effective 27 February on the back of a small surge in US Gulf PE prices, a company source said on Wednesday.
The price for domestic delivered bagged LDPE material was set at Colombian pesos (Ps) 3,572/kg, equivalent to $1,559/tonne (€1,185/tonne).
Imported PE product from countries that have no special agreement with ?xml:namespace>
Ecopetrol was applying only a 7% surcharge to its product, making its product a bargain, relative to imports from the US Gulf, the source said.
To alleviate supply shortages created by technical issues Ecopetrol’s plant experienced in the fourth quarter of 2006, the Colombian government approved a motion to discount the import tariff by 5% for five months.
It set the tariff at 10% for a maximum volume of 3,200 tonnes/month, or about 16,000 tonnes over five months, the source said.
The new rule was approved some time ago but it remained unclear on Wednesday if it has already taken effect.
This may lead to renewed congestion problems in the
($1 = Ps2,291; $1 = €0.76)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections