01 February 2013 21:27 [Source: ICIS news]
HOUSTON (ICIS)--Ecopetrol, Colombia’s sole polyethylene (PE) producer, increased the price of low density PE (LDPE) for February by 6.9%, a company source said on Friday.
Ecopetrol only produces LDPE at its 64,800 tonne/year plant located in Barrancabermeja and adjust its price every month, following international pricing trends and currency fluctuations.
The adjustment follows the trend in international markets, where PE values have been rising in January.
The Colombian currency has been stronger of late, helping to partially offset price increases seen in the international market.
Bulk LDPE prices for January were set at Colombian pesos (Ps) 3,572/kg, ($2,011/tonne, €1,488/tonne) cash price, although large-volume buyers and cooperatives receive substantial discounts, according to market sources.
($1 = Ps1,776, $1 = €0.74)
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