Chile Petroquim raises Jan PP by $50/tonne on higher propylene

13 January 2014 23:00  [Source: ICIS news]

HOUSTON (ICIS)--Petroquim, Chile’s sole polypropylene (PP) producer, is increasing PP prices for all grades in January by $50/tonne because of higher propylene costs, a company source said on Monday.

With this increase, the price of PP raffia homopolymers will rise to $1,680/tonne DEL (delivered) for large clients and slightly higher for other grades.

Petroquim is currently rebuilding inventories that declined in October last year because of shortages of propylene caused by cracker maintenance at the nearby Enap refinery.

The shortages could have been larger, considering that a hard freeze at the end of last winter affected the fruit harvest in Chile.

Demand from the market is seen as stable, because exports of PP resins to nearby countries have offset domestic losses in fruit export packaging.

By: George Martin
+1 713 525 2653

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