Colombia’s Ecopetrol hikes LDPE prices up to 3.6%

09 March 2010 22:32  [Source: ICIS news]

HOUSTON (ICIS news)--Colombia's sole polyethylene (PE) producer, Ecopetrol, increased prices of low density polyethylene (LDPE) by as much as 3.6% effective on Tuesday as part of a weekly adjustment, the producer said.

Prices are revised every week in Colombia to keep domestic prices competitive with imported alternatives.

Currency fluctuations are also considered for the price moves, in addition to raw materials and polymer prices in benchmark markets.

The Colombian currency has made some gains against the dollar of late, and this has made imports more competitive in the country.

The price of bagged LDPE material was set at Colombian pesos (Ps) 3,960/kg, equivalent to $2,097/tonne (€1,531/tonne).

The price of bulk LDPE material was set at Ps3,710/kg. These prices are for cash transactions and for material delivered at Barrancabermeja, where Ecopetrol’s plant is located.

The price for large-volume LDPE buyers, which receive a discount, was pegged by local sources at Ps3,335/kg.

Ecopetrol produces only LDPE in its production plants. Other grades of PE are imported.

($1 = €0.73)

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By: George Martin
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