APLA '10: Braskem targets November price hikes in Argentina

09 November 2010 19:25  [Source: ICIS news]

RIO DE JANEIRO (ICIS)--Brazil’s Braskem is seeking to increase polyethylene (PE) and polypropylene (PP) prices in Argentina for the second half of November, a sales executive said on Tuesday.

The target for PE was an increase of $100/tonne (€72/tonne) for all grades, while PP prices would increase by $50/tonne, said Emilio Nager, sales executive for Braskem, Argentina branch. He spoke on the sidelines of the 30th Latin American Petrochemical Association (APLA) annual meeting, which concluded Tuesday in Rio de Janeiro.

The increase would come after the implementation of a $150/tonne increase in October.

Local producers (Petroquimica Cuyo and Petroken) were planning to roll October prices into November, according to local buyers, but it was not clear if their plans had changed.

Current prices were at about $2,000/tonne CFR (cost and freight) Argentina for low density PE (LDPE), while prices for linear low density PE (LLDPE) and high density PE (HDPE) were at $1,700/tonne CFR Argentina, the source said.

PP prices were at $1,750/tonne CFR for homopolymers and $100/tonne higher for copolymers before the November increases.

Nationalisation costs could add 2–3% to these prices depending on local variables, Nager said.

($1 = €0.72)

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By: George Martin
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