HOUSTON (ICIS)--Argentina polystyrene (PS) producer Pampa Energia is seeking a price increase of 4-5% in October for its resins sold in the country, a source familiar with the issue said on Wednesday.
The price increase tracks higher raw material prices as assessed in US dollars.
Some of the raw materials needed to producer PS are imported and prices are quoted in US dollars. In addition to higher prices, the domestic currency's depreciation causes raw materials to be expensive.
From 2-30 September, the Argentinean peso fell by 2.3% against the US dollar.
Back in May, Pampa Energia bought 67.19% of Petroleo Brasileiro (Petrobras) assets in Argentina. The assets includes a PS plant and production fields in the Nuequen basin and 100% of Colpa Caranda natural gas fields in Bolivia.
Argentina PS producers are Pampa Energia (Petrobras) and Resigum.