Colombia's Ecopetrol lowers PE prices by 6.3%

25 March 2009 17:38  [Source: ICIS news]

HOUSTON (ICIS news)--Colombia’s Ecopetrol reduced prices for low density polyethylene (LDPE) by an average of 6.3% to compensate for currency fluctuations, the producer said on Wednesday.

Ecopetrol adjusts prices weekly to keep Colombian products competitive with imported alternatives.

The Colombian peso (Ps) has gained value versus the US dollar in the last couple of weeks, prompting the Colombian producer to lower prices.

Bagged LDPE material at the plant’s warehouse was reduced by 6.1% to Ps3,424/kg, equivalent to $1,446/tonne (€1,070/tonne), while bulk material was discounted by 6.5% to Ps3,174/kg, equivalent to $1,340/tonne.

Demand from the industrial sector has weakened noticeably in March and was affecting sales of PE, the source said.

The source declined comment on the status of the PE production units, which have not produced consistently in the last six months. The combined production capacity of the two PE units is 5,400 tonnes/month.

Stocks of LDPE were depleted, and the only grades available from the producer were high density PE (HDPE) and linear low density PE (LLDPE), both of imported origin.

($1 = €0.74)

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By: George Martin
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