12 February 2009 00:08 [Source: ICIS news]
HOUSTON (ICIS news)--Brazil’s Braskem will continue lowering polyethylene (PE) prices in February to gradually close the gap between Brazilian and international prices, the company’s PE commercial manager said on Wednesday.
The adjustment will cut Brazilian reais (R) 100/tonne ($44/tonne, €34/tonne) in February for all grades of PE.
It was not clear if the price cuts would meet market expectations, considering that international prices are still much lower.
With the February reduction, Braskem’s minimum price of low density PE (LDPE) in ?xml:namespace>
Although Brazilian companies do not need to set prices at US Gulf levels due to protective import tariffs, the current prices in
The price reductions are intended to stem the flow of imports into
($1 = R2.26)
($1 = €0.78)
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