05 July 2007 22:12 [Source: ICIS news]
HOUSTON (ICIS news)--Colombia’s sole polyethylene (PE) producer, Ecopetrol, has increased prices for low density polyethylene (LDPE) grades by an average of 3.8%, reflecting changes in benchmark markets and currency fluctuations, the company said on Thursday.
The higher prices were made effective on Wednesday, Ecopetrol said.
The price of bagged LDPE material was set at Colombian pesos (Ps) 3,556/kg ($1,813/tonne), a 3.7% increase over the previous week.
The price of bulk LDPE material was set at Ps3,401/kg, for a 3.9% increase over last week.
Thes prices were for cash transactions and for material delivered at Barrancabermeja, Colombia, where the production plant is located.
Shortages of LDPE persist in Colombia, where the government temporarily lowered import tariffs to ensure domestic supply of this grade. Other grades are routinely imported into Colombia.
Ecopetrol is trying to increase inventories in preparation for an upcoming programmed maintenance shutdown in July that will take 100% of production capacity offline.
Nominal capacity of the Ecopetrol plant is about 5,000 tonnes/month, although actual production has been closer to 4,000 tonnes/month in the last few months, a source said.($1 = Ps1,961)
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