18 July 2012 22:38 [Source: ICIS news]
HOUSTON (ICIS)--Argentina’s sole domestic polyethylene (PE) producer, Dow Chemical, lowered high density PE (HDPE) prices in July despite tight supply, buyers confirmed on Wednesday.
Initially, Dow Chemical had discounted July prices of low density PE (LDPE) by $100/tonne (€81/tonne), while linear low density PE (LLDPE) prices were down by $50/tonne.
Dow Chemical reduced HDPE prices by $50/tonne this week and buyers confirmed the reductions for all grades.
However, the dollar value used to calculate domestic prices was adjusted too, sources said, partially offsetting the July price reductions.
Imports from Brazil were following local prices with reductions of about $50/tonne for July.
With the July discount, HDPE blow moulding prices in Argentina are in the range of $1,836-2,095/tonne DEL (delivered), based on ICIS data.
Buyers are seeking further discounts in August, but it is unclear if they will succeed.
($1 = €0.81)
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