Egypt’s SIDPEC: We produce HDPE blow moulding
A trader said, “Locally held PE prices gained ground on the back of the increasing US dollar parity. Meanwhile, very limited locally held supplies also played a role in this increase. We also see some improvement on demand thanks to tight supplies.”
Another trader remarked, “SIDPEC is seeing intense demand from the market and we could not locate extra cargoes from the producer. Parity problems and tight supplies are causing increases in the local market and we do not expect this situation to change over the near term.”
Meanwhile, a source from SIDPEC commented on the issue and said, “We have been proceeding with our deliveries without any problems since the beginning of the month. For HDPE film, we held good stocks but thanks to our well performing sales, we have now run out of stocks for this particular product. At the moment, our HDPE film and b/m switch line produces only HDPE blow moulding and that is why players feel the shortage for HDPE film. In fact, there should have been no tightness felt if availability for locally held cargoes had not been hindered by high parity issues.”
The producer continues to offer HDPE film at EGP10600/ton ($1354/ton), HDPE b/m at EGP11000/ton ($1405/ton) and HDPE injection at EGP11400-11700/ton ($1456-1494/ton) on ex-Alexandria, cash inc VAT basis.
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