Egypt’s ETHYDCO announces September PE offers
Accordingly, the producer’s recent offers are currently standing at EGP22,800/ton ($1292/ton) for LLDPE film, EGP22,600/ton ($1280/ton) for HDPE film, and at EGP22,000-22,600/ton ($1246-1280/ton) for b/m and at EGP21,000-21,500/ton ($1190-1218/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 supply dynamics rather than good demand as trading is still muted due to the holidays, commenting, “The market can absorb the recent increases for some grades. However, players are yet to return to their desks.”
A converter confirmed receiving HDPE film offers with EGP400/ton ($22/ton) increases while HDPE b/m offers indicate larger hikes of EGP600-1000/ton ($33-56/ton) from August. The source argued, “The market is still slow in terms of trading as purchases are generally limited. It’s early to say whether these hikes will see acceptance or not as players will be back from their extended holidays only by next week. Moreover, SIDPEC will deliver blow moulding tomorrow.”
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