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Egypt’s ETHYDCO announces August PE offers

by ChemOrbis Editorial Team - content@chemorbis.com
  • 02/08/2017 (16:48)
In Egypt, a source from a local PE producer, ETHYDCO, reported that the producer announced its new offers with rollovers to increases of up to EGP500/ton ($28/ton) for HDPE grades while maintained LLDPE film offers stable from July.

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.
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