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Egypt’s PVC producers issue January prices

by ChemOrbis Editorial Team - content@chemorbis.com
  • 04/01/2016 (11:57)
In Egypt, two local PVC producers, EPC and TCI Sanmar, issued their new January prices for the first half of January. The producers’ new offers indicate decreases of EGP200/ton ($26/ton) when compared to their latest December levels.

EPC offers k67-68 at EGP7100/ton ($907/ton) and k70 at EGP7250/ton ($926/ton) on an ex-Alexandria, cash not inc VAT basis. A source from the producer commented, “In order to cope with weak market sentiment and softer import offers, we decided to cut our prices. The market is still slow given the holiday lull and not many players have returned to their desks yet. Regarding our exports, we will not export any cargoes in January because the local market still provides relatively better margins than exports. For now, we run our plant at full capacity and we deliver to the market smoothly.”

Meanwhile, TCI Sanmar’s new PVC k67-68 offer levels stand at EGP7800/ton ($906/ton w/o VAT) on an ex-Port Said, cash inc VAT basis. A source from the producer said, “We cut our prices given the weaker global trend. However, we believe that the market may start to recover following the national holiday that will be celebrated on January 7th. For now, sentiment is weak as most players are yet to return to their desks as they are taking prolonged holidays. It appears that many Egyptian players have already dropped their import purchases amidst the globally decreasing trend and ongoing difficulties when opening letters.
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