Competitive European PVC offers emerge in Egypt
by ChemOrbis Editorial Team - content@chemorbis.com
Irregular European PVC offers have recently showed up in Egypt’s import market at competitive levels. These European offers followed US PVC offers lower in the midst of poor buying interest.
Although the bulk of the import offers were formed by US origins, European offers emerged at even lower levels than the US this week. A buyer reported receiving South European k67 offers at $780/ton CIF Alexandria, cash while US k67 ranges are reported at $800-850/ton with the same terms so far this week.
According to sources, the emergence of European origins in Egypt at competitive levels proves the stock pressure on the European sellers’ side, as is the case in European PVC’s main export destination, Turkey. European PVC prices have posted cumulative falls of around $100/ton since the downturn started in early October.
In Egypt, buyers were seen opting for prompt material in the local market rather than import cargoes.
Although the bulk of the import offers were formed by US origins, European offers emerged at even lower levels than the US this week. A buyer reported receiving South European k67 offers at $780/ton CIF Alexandria, cash while US k67 ranges are reported at $800-850/ton with the same terms so far this week.
According to sources, the emergence of European origins in Egypt at competitive levels proves the stock pressure on the European sellers’ side, as is the case in European PVC’s main export destination, Turkey. European PVC prices have posted cumulative falls of around $100/ton since the downturn started in early October.
In Egypt, buyers were seen opting for prompt material in the local market rather than import cargoes.
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