03 December 2012 17:18 [Source: ICIS news]
HOUSTON (ICIS)--Ecopetrol, Colombia’s sole polyethylene (PE) producer, reduced the price of low density PE (LDPE) for December by 1.3%, a company source said on Monday.
Ecopetrol only produces LDPE at its 64,800 tonne/year plant in Barrancabermeja and adjusts its price every month, following international pricing trends and currency fluctuations.
The Colombian currency has been stronger of late, helping to reduce price volatility.
Availability of material has tightened during November with programmed maintenance to the PE units.
Both units are currently down. At least one of the units is scheduled to restart on 7 December, the source said, after some initial technical difficulties experienced last week when start-up procedures began.
Bulk LDPE prices for December are listed at the Ecopetrol’s website at Colombian pesos (Ps) 3,392/kg, ($1,870/tonne, €1,440/tonne) cash price, but large-volume buyers and cooperatives receive substantial discounts, according to market sources.
November prices had a mid-month 4.2% increase that had raised prices to Ps3,437/kg, the Ecopetrol source said.
($1 = €0.77)
($1 = Ps1,817)
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