Dow Colombia will implement a 5-cent/lb ($110/mt) increase on all polyethylene grades sold in the Andean region, Central America and the Caribbean, effective March 10, the company said Tuesday.
Dow Colombia told its customers of the price hike in a letter obtained by Platts.
Andean countries covered by the proposed increase include Chile, Colombia, Bolivia, Ecuador, Peru and Venezuela.
However, a source with knowledge of business operations said they were analyzing a similar movement in Mexico.
Platts February 17 assessed import pricing into the region at $1,020/mt CFR Peru basis for high-density PE blowmolding and at $1,020/mt CFR Peru basis for high-density film, up $10/mt and flat, respectively, week on week.
The US has been the most competitively priced region for Peru and along the West Coast of South America for spot imports, taking offers and delivery times into consideration, market sources said. However, prices have been rising with talk of tight availability and less export cargoes available to sellers, sources said.