Colombia’s Ecopetrol increases LDPE prices 1.3%

10 April 2007 22:13  [Source: ICIS news]

HOUSTON (ICIS news)--Colombia’s sole polyethylene (PE) producer, Ecopetrol, increased prices for low density polyethylene (LDPE) grades by 1.3% effective 10 April to reflect the latest surge in US Gulf PE prices, a company source said on Tuesday.

 

The price of domestic bagged LDPE material was set at Colombian pesos (Ps) 3,784/kg, equivalent to $1,749/tonne (€1,312/tonne), for a 1.3% increase over the previous week.

 

The price of bulk LDPE material was set at Ps3,629/kg ($1,678/tonne), a 1.4% increase over last week.

 

The above listed prices are for cash transactions, with material delivered at Barrancabermeja, where the company’s production plant is located.

 

Shortages of LDPE were still persisting in Colombia, driving street prices to about Ps4,200/kg, equivalent to $1,942/tonne, the source said.

 

Ecopetrol adjusts prices weekly to keep pace with alternatives from the US Gulf or Asia, but also to react to currency fluctuations.

 

The US dollar has been weakening against the Columbian peso in the past few days and currently stands at Ps2,163.

 

($1 = €0.75; $1 = Ps2,163)

By: George Martin
+1 713 525 2653

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