16 August 2012 16:25 [Source: ICIS news]
HOUSTON (ICIS)--Dow Chemical, the sole polyethylene (PE) producer in Argentina, announced that prices for all grades will go up by $100/tonne (€81/tonne) from 1 September, company sources said on Thursday.
The company said that the international price trend changed some weeks ago and continues its upward movement due to higher feedstock cost and slightly better demand.
Argentine PE prices declined in July and were steady in August, with only minor adjustments to the dollar value used to set local prices.
Buyers have not yet reacted to the news. However, they have few alternatives in imports, given that only product from Brazil, a Mercosur partner, is entering the country in significant volumes.
Brazilian PE prices moved up sharply in August and prices are scheduled to increase again in September.
Non-Mercosur imports are subject to a 14% import fee, which decimates their competitiveness.
Low density PE (LDPE) prices in Argentina are in the range of $1,965-2,284/tonne DEL (delivered), linear low density (PE) butene prices at $1,873-2,244/tonne DEL, while high density PE (HDPE) prices are in the range of $1,815-2,070/tonne DEL, based on ICIS data.
($1 = €0.81)
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