05 September 2013 22:19 [Source: ICIS news]
HOUSTON (ICIS)--Dow Chemical, the sole polyethylene (PE) producer in Chile, is pushing a $50/tonne price increase for all grades effective September 1 and will seek a similar hike during the second half of the month, a company source said on Thursday.
The local producer initially sought to increase prices by $50/tonne (€38/tonne) in August, but the hike did not take hold. The measure was rolled back.
The increase for Chile will be duplicated in other Andean nations such as Peru or Ecuador.
Alternatives from Asia are still being offered at competitive levels, and this has kept domestic price increase aspirations on hold.
Product from Brazil is also sold in Chile at slightly higher prices.
Prior to this increase, the price of low density polyethylene (LDPE), the only grade produced there, was in the range of $1,648-1,778/tonne DEL (delivered), according to ICIS data.
($1 = €0.76)
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