31 August 2011 22:26 [Source: ICIS news]
Buyers said the initiative was coming from both producers in
The increase comes amid shortages of copolymers caused by reduced ethylene supply.
Petroquimica Cuyo is the only maker of copolymer resins in
It was not clear if the September price hike was devised to offset higher raw materials costs or to improve margins.
However, feedstock propylene contracts in benchmark
The Argentine government had frozen plastic resin prices early in the year to keep inflation under control. This affected margins for producers who absorbed higher raw material costs.
Meanwhile, the granting of import licences remains a slow process in
Thus, the shortages of copolymers linger on despite the availability of Brazilian product in Mercosur markets.
Prior to the September increase, PP prices in
$1 = €0.69
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