28 June 2013 17:21 [Source: ICIS news]
HOUSTON (ICIS)--Petroquim, Chile’s sole polypropylene (PP) producer, is increasing minimum prices for all grades by $50/tonne (€39/tonne) in July, a company source said on Friday.
Minimum prices for a large raffia homopolymer customer will be at about $1,630/tonne DEL (delivered) and higher for other grades.
The price from distributors and other resellers in Chile’s domestic market could be $100-150/tonne higher.
Chile’s domestic PP prices are roughly at the same levels seen a year ago.
Chile has always had competitive prices, moderated by imports from several destinations.
Product from Korea was said to be for restricted volumes and heard at nearly $1,600/tonne CFR Chile.
Production of PP resins has stabilised in Chile because the local refiner has restored propylene deliveries from its two refineries, the source said.
The local producer expects to recover market share lost to traders during the months when propylene supply declined.
PP demand from Peru was said to have fallen drastically in recent weeks, with a decline in the order of 25%, the source said.
Soft demand has also been seen in Colombia, according to local sellers.
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