June PP prices jump higher in Colombia

19 June 2008 17:47  [Source: ICIS news]

HOUSTON (ICIS news)--Propilco, the sole polypropylene (PP) producer in Colombia, has increased prices by $90/tonne (€58/tonne) for all grades of PP effective 16 June, a company source said on Thursday.

The price increase was needed to offset higher raw material costs, the source said.

Before the increase, prices in Colombia were in the range of $1,900-2,000/tonne for homopolymer raffia and slightly higher for injection material, according to global chemical market intelligence service ICIS pricing.

Demand in Colombia has softened of late, due in part to higher prices for all plastic resins.

Colombian production of PP was described as normal after the replacement of a motor in one affected unit. The malfunctioning motor had diminished production by about 25%, mainly affecting exports.

PP prices could go up again in July if monomer costs keep rising, the source said.

($1=€0.64)

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By: George Martin
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