Egypt’s SIDPEC comments on late deliveries
A distributor said, “We have started to receive some PE inquiries, albeit in limited numbers, now that the holiday lull has started to dissipate. Yet, in general, demand remains slow. On another note, players complain that they have not received their quotas from the local producer SIDPEC. Although demand is weak, SIDPEC, given their not very comfortable stocks, may not issue great decreases. Plus, the local producer may use the advantage of the depreciating EGP against the US dollar to keep the decrease amount limited. Apart from that, difficulties when opening letters of credit at banks also cause buyers to turn away from the import market to the local market.”
A source from SIDPEC replied to these claims by saying, “We are holding comfortable supplies for HDPE film and blow moulding, although it is true that we are facing some issues when producing HDPE injection. Yet, that does not mean that our HDPE injection production is halted. Our injection production continues but in small amounts. We observe the market and deem it as “calm” after the holiday period. We will announce our new prices as of next week and we will consider the slow market conditions.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- October PET deals concluded with moderate increases in Europe
- Will it be supply or demand to set PP, PE outlook in Europe?
- Premium of HDPE over LLDPE hits 16-month high in Turkey
- Post-holiday hikes carry China homo-PP market to 1-year high
- Asia PVC markets see longest rising streak ever on extreme tightness
- Africa polymers: October offers higher amid reduced availability
- Stable to softer PE trend prevails in Europe amid soft demand, poor netbacks
- Turkey’s PP and PE markets move up, but riddled with uncertainties
- India, SEA PVC markets unlikely to take respite from bullish run for November
- Southeast Asia PET markets move sideways during China’s absence