APLA '10: Brazil's Braskem targets Nov PE hikes on tight supply

09 November 2010 15:52  [Source: ICIS news]

RIO DE JANEIRO (ICIS)--Brazil-based Braskem is targeting an increase of Brazilian reais (R) 150/tonne ($88/tonne, €63/tonne) for all grades of polyethylene (PE) effective 16 November, a marketing executive said on Tuesday.

The executive attributed the increase to tight supply, particularly for low-density PE (LDPE), which remains scarce throughout the region, the source said on the sidelines of the Latin American Petrochemical Association (APLA) annual meeting.

No changes were targeted for polypropylene (PP) in the second half of November.

It was not clear if the measure would have market support, but sources said that buyers may not have any alternatives.

Prices for LDPE were at $2,152-2,311/tonne FOT (free on truck), as assessed by ICIS.

Linear low-density PE (LLDPE) was at $2,292-2,440/tonne FOT, and high-density PE (HDPE) was at $2,274-2,440/tonne FOT.

The APLA meeting ends on Tuesday.

($1 = €0.72)

For more on PP or PE visit ICIS chemical intelligence
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By: George Martin
+1 713 525 2653

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