25 November 2008 21:31 [Source: ICIS news]
HOUSTON (ICIS news)--Colombia’s Ecopetrol reduced prices for low density polyethylene (LDPE) again this week from 7.4% to 9.7%, depending on grade, the company said on Tuesday.
Bagged material at the plant’s warehouse was reduced by 7.4% to Colombian pesos (Ps) 3,212/kg, equivalent to $1,386/tonne (€1,081/tonne) while bulk material was discounted by 9.7% to Ps2,982/kg, equivalent to $1,287/tonne (€1,004/tonne).
The reduction was intended to match falling prices in the US Gulf in order to keep the Colombian production of LDPE competitive.
With the latest price decline, Ecopetrol has lowered LDPE prices by nearly 35% in November, following international market trends.
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Ecopetrol built up inventories ahead of the turnarounds to cover contractual requirements. Part of the emergency stock was reinforced with imports from
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