Egypt’s SIDPEC announces December PE prices

Egypt’s local PE producer SIDPEC has announced its new HDPE b/m, film and injection offers with decreases of EGP600/ton ($34/ton) from its latest offers in November.

Accordingly, SIDPEC’s December offers are reported at EGP22,100/ton ($1248/ton) for HDPE blow molding, EGP22,000/ton ($1242/ton) for HDPE film and EGP21,900/ton ($1236/ton) for injection, all on ex-Alexandria, 60 days deferred payment excluding VAT basis.

A producer source reported that they issued decreases in line with the slow trading activities. The source commented, “The overall market sentiment is sluggish and we aim to encourage our customers to source more to improve our sales. In a further attempt to boost our sales, we offered additional discounts of EGP400/ton ($23/ton) for our customers, who will commit to purchase the entire monthly amounts written in their contracts.”