02 July 2013 18:11 [Source: ICIS news]
HOUSTON (ICIS)--The local polyethylene (PE) producer in Argentina is seeking to increase prices for all grades in July by $100/tonne, a company source said on Tuesday.
The increase will happen in two halves. An increase of $50/tonne is already in effect since 1 July, and the second $50/tonne increase will be effective on 15 July.
Imported PE product is also headed up as Brazilian product will likely show similar increases this month. However, the timing could be slightly different.
Supply remains tight in the country because at least one production plant is down for maintenance.
Industrial producers schedule maintenance procedures during the winter time to minimise the impact of gas shortages that seasonally occur every year.
Because of maintenance, low density polyethylene (LDPE) is the grade that is currently in short supply in Argentina, according to producer sources.
Supply of other grades was seen as adequate to address existing demand.
Prior to this increase, June LDPE prices in Argentina were in the range of $2,151-2,337/tonne DEL (delivered), while linear low density polyethylene was at $1,966-2,256/tonne DEL and high density polyethylene (HDPE) was at $1,966-2,245/tonne DEL, according to ICIS data.
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