09 January 2013 22:49 [Source: ICIS news]
HOUSTON (ICIS)--Brazil’s Braskem, the sole polyethylene (PE) producer in Brazil, is seeking to increase January prices for all grades of PE by R150/tonne ($74/tonne, €56/tonne) effective on 15 January, a company source said on Wednesday.
The increase emulates initiatives in the US Gulf PE market, where producers are seeking a 5 cent/lb increase for January.
Braskem is striving to align domestic pricing policy more closely with international price trends.
Buyers have not yet reacted to the increase. Activities have been subdued in Brazil because many market participants take summer vacations in January.
Currently, low density PE (LDPE) prices in Brazil are at $2,548-2,646/tonne FOT (free on truck), while LLDPE butene levels are at $2,425-2,523/tonne FOT. HDPE blow moulding grades are at $2,450-2,597/tonne FOT, according to ICIS data.
Assessed Brazilian PE prices include the PIS/Cofins taxes, which add approximately 10% to the price or more, depending on product destination.
($1 = R2.04, $1 = €0.76)
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