Colombia’s Ecopetrol lowers November LDPE prices by 6.68%

02 November 2011 22:29  [Source: ICIS news]

HOUSTON (ICIS)--Colombia’s sole polyethylene (PE) producer, Ecopetrol, reduced the price of low density PE (LDPE) by 6.68%, effective on 1 November, company sources said on Wednesday.

With the November drop, the domestic price of LDPE for film applications in Colombia is $1,725-1,980/tonne (€1,259-1,445/tonne) FOT (free on truck), as assessed by ICIS.

Ecopetrol produces only LDPE in its production facilities at Barrancabermeja and Cartagena. All other grades of PE are supplied by imports.

Ecopetrol adjusts prices once per month based on a combination of international prices and changes in currency exchange rates, seeking to remain competitive with imports.

Product from Brazil, Mexico and the US Gulf are routinely offered, together with products from Asia, the Middle East and Europe.

($1 = €0.73)

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By: George Martin
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