Venezuela’s PP prices up 17% in August

25 August 2008 23:21  [Source: ICIS news]

HOUSTON (ICIS news)--Venezuela’s Pequiven increased prices for all grades of polypropylene (PP) by 17% in August, amid feedstock scarcity and a larger influx of imported monomers and polymers, a source with Pequiven said on Monday.

The local producer justified the increases on additional propylene imports needed to satisfy a growing internal demand at a time when local monomer production is lacking due to maintenance on one olefins unit.

Prior to the increase, the price of PP homopolymers in Venezuela averaged about $2,200/tonne FOT (€1,496/tonne), according to global chemical market intelligence service ICIS pricing.

Pequiven was bringing about 3,000-3,600 tonnes of PP from Colombia per month to reinforce local production. There were plans also to bring PE and PP from Brazil through an accord reached with Brazilian producer Braskem.

Braskem will supply 60,000 tonnes/year of polyethylene and polypropylene to stabilise local supply until new plants are built by a JV between Pequiven and Braskem, according to the latest reports from AVIPLA, the Venezuelan association for the plastics industry.

($1 = €0.68)

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By: George Martin
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