Egypt’s EPC reveals H2 Aug PVC offers to local market
Prior to the producer’s announcement, a pipe manufacturer predicted, “We believe that the local producers will issue rollovers on their mid-month announcements as the market isn’t absorbing any increases.”
EPC’s new PVC offers are reported at EGP17,000/ton ($948/ton) for PVC k67-68 and at EGP17,800/ton ($992/ton) for k70, on ex-Alexandria, cash excluding VAT basis. The official exchange rate is used for the US dollar calculations.
The source reported that they issued rollovers as they find their levels reasonable given moderate demand. However, the source added, “Our allocations are not comfortable and we are currently clearing backlogs in the export market.”
A buyer based in Cairo confirmed slack activities in the market saying, “Import prices are firming up as supply is not there. However, buying interest remains thin amid muted end-demand and liquidity issues.”
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