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Competitive US PE offers emerge in Egypt

by ChemOrbis Editorial Team -
  • 01/06/2017 (11:06)
In Egypt, competitive offers showed up for US PE cargoes, standing below the prevailing June offers of Middle Eastern producers despite the monthly decreases they applied.

HDPE film offers for US origins were reported at $1100/ton on CIF Egypt, subject to 5% customs duty, cash basis. After including the duty, this HDPE offer stands $65/ton below the lowest deal reported for a duty-free Saudi origin at $1220/ton this week.

There are also offers for US PP raffia and injection at $1120/ton with the same terms, which come to $1176/ton after adding the duty. However, they are not considered attractive when compared to the deals reported for Saudi origin at $1150-1160/ton CIF.

The trader said they will start to sell these cargoes by the middle of this month. He is offering these levels in order to attract buyers for the US cargoes.
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