29 March 2010 17:33 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS news)--Rising propylene (C3) prices in the US Gulf are forcing polypropylene (PP) producers in Latin America to increase PP prices at a time when competitive offers of Asian product are proliferating in the region, producers at the International Petrochemical Conference (IPC) said on Monday.
“If we don’t increase prices we lose money, but if we do, we could lose market share to Asian product that is already offered at lower prices,” a source with Colombia’s Propilco said.
Korean product was heard offered into Colombia at $1,500/tonne (€1,110/tonne) CFR (cost and freight) Cartagena, and could reach buyers at about $1,700/tonne after taxes and transportation.
Colombia’s domestic PP sells in a range of $1,765-2,000/tonne FOT (free on truck) and prices could go up again in April to offset C3 increases.
Hosted by the National Petrochemical & Refiners Association (NPRA), the IPC continues through Tuesday.
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