Egypt’s ETHYDCO announces August PE offers
Accordingly, the producer’s recent offers are currently standing at EGP22,800/ton ($1274/ton) for LLDPE film, EGP22,200/ton ($1240/ton) for HDPE film, and at EGP21,000-22,000/ton ($1173-1229/ton) for b/m and at EGP21,000-21,500/ton ($1173-1201/ton) for injection, all on an ex-Alexandria, cash not including VAT basis. The official exchange rate is used for the US dollar calculations.
The source attributed price increases to good demand for their cargoes and added, “We believe that the market can absorb the recent increases in our prices. In addition, some of our cargoes are highly requested in the market. Operations are going normally and we are delivering smoothly to our customers.”
However, a trader commented that sluggish demand won’t allow prices to firm up, although ETHYDCO announced higher offers for August. "Supplies are good whereas players are limiting their purchases given the tight cash flows and the blurry outlook,” said the trader.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
- China's import PP markets maintain uptrend under shadow of oil-driven losses in Dalian futures
- Weaker domestic demand prompts Vietnam to export polymers
- European PP market ceases upward trend in September
- Force majeure declarations rock the boat in Turkish PVC market
- China’s PE uptrend fueled by US force majeures; LDPE soars to more than 1-year high
- Stats: China’s cumulative PP imports in Jan-July 2020 reach record-high
- Sept PP, PE trend begins to take shape in Saudi Arabia
- Sept expectations voiced in Europe; ABS draws rosier picture than PS