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Egypt’s SIDPEC opens Oct with PE hikes

by ChemOrbis Editorial Team -
  • 02/10/2017 (17:57)
Egypt’s local PE producer SIDPEC has announced its new HDPE b/m, film and injection offers with respective increases of EGP200/ton ($11/ton), EGP400/ton ($23/ton) and EGP500/ton ($28/ton) from its latest offers in September.

Accordingly, SIDPEC’s October offers are reported at EGP22,700/ton ($1285/ton) for HDPE blow molding, EGP22,600/ton ($1280/ton) for HDPE film and EGP22,500/ton ($1274/ton) for injection, all on ex-Alexandria, 60 days deferred payment excluding VAT basis.

A producer source noted that customers are yet to respond to their October offers as they are waiting to hear other regional suppliers’ levels as well before engaging in any purchases. He reported, “We raised our offers in compliance with the global firming trend. Our plant is running at full rates and we will be delivering HDPE film cargoes this week. However, overall market activities are sluggish due to the buyers’ temporary waiting stance.”

Following this, a film manufacturer in Cairo commented, “Prices remained more or less steady even after SIDPEC’s October hikes. We source on a needs only basis as demand for our end-products is disappointing. Moreover, SIDPEC will deliver HDPE film until mid-October and then they will switch to HDPE b/m deliveries.”

“We are waiting to receive new October offers with increases given high upstream costs. HDPE film supplies are respectively more comfortable in the market, meanwhile,” said a different manufacturer.
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