02 January 2013 22:54 [Source: ICIS news]
HOUSTON (ICIS)--Ecopetrol, Colombia’s sole polyethylene (PE) producer, reduced the price of low density PE (LDPE) for January by 1.5%, a company source said on Wednesday.
Ecopetrol produces LDPE only 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 to partially offset price increases seen in the international market.
Availability of material has tightened in the last two months with maintenance procedures on the PE units that dragged on longer than initially planned.
Bulk LDPE prices for January were set at Colombian pesos (Ps) 3,341/kg, ($1,900/tonne, €1,444/tonne) cash price, although large-volume buyers and cooperatives receive substantial discounts, according to market sources.
Ecopetrol had previously discounted prices in December by 1.3%.
($1 = €0.76)
($1 = Ps1,758)
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