May Brazil PE prices to increase slightly - Braskem
05 May 2009 22:24 [Source: ICIS news]
SAO PAULO (ICIS news)--Brazilian polyethylene (PE) producer Braskem had partial success with April price increases and will seek to implement the remainder of the April nominations in May, PE commercial manager Henrique Lewi said on Tuesday.
Some customers saw a big part of the announced Brazilian reais (R) 200/tonne ($93/tonne, €70/tonne) increase implemented in April, but buyers who had larger inventories have yet to see an increase, Lewi said.
The gains by the Brazilian currency versus the US dollar were in part responsible for the success of the April increases, because they made imports more attractive, Lewi said.
Prior to the increase,
The company is looking to better compete with imports while at the same time improve margins - two conflicting objectives, Lewi admitted.
The success of these initiatives was likely to depend also on the pricing policies of competitors, who for the most part reported similar results in April.
March and April were important months for Brazilian producers because prices stopped falling and started a slow recovery process with help from rising feedstock prices, a source said.
($1 = R2.12, $1 = €0.75)
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