10 August 2010 22:25 [Source: ICIS news]
SAO PAULO (ICIS)-- Brazil’s petrochemical major Braskem has increased its 2010 forecast for growth in domestic demand for resins to 10% from 9%, the company’s chief executive said on Tuesday.
The change would amount to 200,000 tonnes for a total of 4.7m tonnes in 2010/year, said chief executive Bernardo Gradin.
Gradin said demand for polyethylene (PE), polypropylene (PP) and polyvinyl chloride (PVC) should increase by 10% as domestic prices would tend to be in line with international prices, which would improve sales of products produced locally.
Gradin said Braskem had to fight against imported resins in the first half of the year, which grew as a result of lower international prices.
International prices, however, have been catching up with domestic prices, he said.
In June, the share of imported resins in the Brazilian market reached over 30%, but was projected to drop to 25% in the second half, Gradin said.
"There was an increase in imports reported in the end of June, but we did not want to enter a price competition situation,” Gradin said in Portuguese.
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