November PP prices soften in Colombia

17 November 2010 23:15  [Source: ICIS news]

HOUSTON (ICIS)--Colombia’s local polypropylene (PP) producer, Propilco, reduced prices in November by about Colombian pesos (Ps) 60/kg ($32/tonne, €24/tonne) following indications for feedstock propylene in the US Gulf, a company source said on Wednesday.

Demand was stable at the typical reduced levels seen all year, the source said. Imports from Brazil and the US Gulf were aggressively priced of late, making price adjustments necessary to retain market share.

Increased volatility of currency markets was complicating the pricing issue in Colombia, and minor fluctuations in the PP price were likely to occur before the end of the month.

With the reductions, domestic prices were in the range of Ps3,300-3,490/kg, equivalent to $1,753-1,853/tonne FOT (free on truck), the source said.

Export prices for homopolymers were in the range of $1,550-1,570/tonne FOB (free on board) Cartagena, Colombia, depending on destination.

 ($1 = €0.74, $1 =Ps1883)

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By: George Martin
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