01 November 2012 17:01 [Source: ICIS news]
HOUSTON (ICIS)--Ecopetrol, Colombia’s sole polyethylene (PE) producer, left the price of low density PE (LDPE) unchanged for November, a company source said on Thursday.
Ecopetrol only produces LDPE at its 64,800 tonne/year plant located in Barrancabermeja, and adjusts its price every month, following international pricing trends and currency fluctuations.
The Colombian currency has been stronger of late, helping offset some of the increases in plastic resins.
Availability of material was adequate for all grades. While Ecopetrol produces only LDPE in its plants, the company routinely imports PE of all grades to complement local production, acting like a trader.
Bulk LDPE material is listed on Ecopetrol’s website at about Colombian pesos (Ps) 3,298/kg, ($1,800/tonne, €1,386/tonne), but large-volume buyers and cooperatives receive substantial discounts, according to market sources.
($1 = €0.77)
($1 = Ps1,830)
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