04 October 2012 22:48 [Source: ICIS news]
HOUSTON (ICIS)--Ecopetrol, Colombia’s sole polyethylene (PE) producer, increased the price of low density PE (LDPE) by 1.6% effective 1 October, local sources said on Thursday.
Ecopetrol produces LDPE only at its plant at Barrancabermeja and adjusts its price every month, following international pricing trends and currency fluctuations.
The October increase could be a consequence of currency fluctuations. International PE prices have been steady of late.
Ecopetrol routinely imports PE of all grades to complement local production.
With the latest increase, bulk LDPE material is listed on the Ecopetrol’s website at around Colombian pesos (Ps) 3,292/kg, ($1,825/tonne, €1,423/tonne), but large-volume buyers and cooperatives receive substantial discounts, according to market sources.
($1 = €0.78 = Ps1,804)
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