06 July 2012 21:58 [Source: ICIS news]
HOUSTON (ICIS)--Ecopetrol reduced the price of low density polyethylene (LDPE) by 3.9% from 1 July, in tune with lower international prices, local sources said on Friday.
Ecopetrol only produces LDPE and adjusts its price every month based on a basket of international prices, while also taking in consideration currency fluctuations.
With the latest reduction, bulk LDPE material is listed at the Ecopetrol’s website at about Colombian pesos (Ps) 3,045/kg, ($1,710/tonne, €1,385/tonne), but large-volume buyers receive substantial discounts, according to market sources.
Price levels for LDPE imports entering Colombia were heard at $1,330-1,350/tonne CFR Cartagena or Buenaventura.
Low linear density PE (LLDPE) levels were heard in the range of $1,300-1,320/tonne CFR Cartagena or Buenaventura, with high density PE (HDPE) blow moulding quoted around $1,300/tonne CFR Cartagena or Buenaventura.
Product from Brazil was deemed competitive with offers from other regions, according to local importers.
($1 = €0.81)
($1 = Ps1,785)
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