Ecopetrol increases LDPE prices by 3.6%

22 August 2007 20:40  [Source: ICIS news]

HOUSTON (ICIS news)--Colombia’s sole polyethylene (PE) producer, Ecopetrol, increased prices for low-density polyethylene (LDPE) grades by an average of 3.6%, effective on Wednesday, to reflect substantial currency fluctuations last week, the company said.

The US dollar value was at Colombian Pesos (Ps) 2,155 after rebounding from Ps2,036 on 15 August.

The price of bagged LDPE material was set at Ps3,860/kg ($1,791/tonne).

The price of bulk LDPE material was set at Ps3,705/kg. These prices were for cash transactions and for material delivered at Barrancabermeja, Colombia, where the production plant is located.

However, an agreement to supply PE to large-volume cooperatives has been renewed in Colombia, and those preferred buyers receive a discount. The price for those clients this week was set at Ps3,633/kg.

The prices posted by Ecopetrol were seen as list prices, and they represent typical levels for small-volume buyers, the Ecopetrol source said.

There was good availability of LDPE material in Colombia, the source said. There were fewer shipments of material from Venezuela, which appears to have tightened the border and reduced the volumes of smuggled product into Colombia.

($1.00 = PS2,155)
By: George Martin
+1 713 525 2653

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