Brazil's Braskem plans to increase prices for all polyethylene and polypropylene grades sold in Argentina by $110/mt and $80/mt, respectively, this week, a source with knowledge of business operations said Monday.
The price increase comes amid higher import prices of PE and PP grades into the region.
A lack of fresh offers from the Middle East and Asia along with higher US-origin price levels have pressured markets upward, sources said.
S&P Global Platts assessed LDPE at $1,520/mt FOT Brazil on Wednesday, flat week on week. Homopolymer was also stable at $1,140/mt FOT, based on Brazil-origin offers at $1,260/mt CPT Paraguay.
The assessments are a free on truck delivery price from Brazil into the Mercosur and subtracts freight costs estimated at $100/mt, as well as $20/mt for negotiation.
