04 November 2013 16:50 [Source: ICIS news]
HOUSTON (ICIS)--Ecopetrol, Colombia’s sole polyethylene (PE) producer, reduced the price of low density PE (LDPE) by 0.6%, effective on 1 November, a company source said on Monday.
A similar reduction applies also to all PE sub-products and off-grade material.
Ecopetrol only produces LDPE at its 64,800 tonne/year plant in Barrancabermeja.
The company imports other grades not locally produced such as high density polyethylene (HDPE) and linear low density polyethylene (LLDPE).
The November adjustment reflects recent price stability in international markets and currency fluctuations.
Bulk LDPE prices for November were set at Colombian pesos (Ps) 4,076/kg ($2,142/tonne, €1,585/tonne) cash price, although cooperatives and other large-volume buyers receive substantial discounts.
The reduction applies only to domestic LDPE production. Imported product is sold at cost and freight (CFR) Cartagena prices plus handling costs.
($1 = €0.74, $1 = Ps1,903)
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