Egypt’s SIDPEC rolls over Aug PE offers, partly resumes production

Egypt’s local PE producer SIDPEC has announced its new PE offers with rollovers from its latest offers in June. The producer was absent in July given its planned maintenance at its plant.

Accordingly, SIDPEC’s August offers are reported at EGP22,200/ton ($1228/ton) for HDPE film, EGP22,500/ton ($1245/ton) for HDPE blow molding and EGP22,000/ton ($1217/ton) for injection, all on ex-Alexandria, 60 days deferred payment excluding VAT basis.

“The market is mostly steady. Liquidity issues are keeping market activities weak as buyers are purchasing on a needs only basis. We have restarted our plant, but we are currently operating only one production line which produces HDPE film and b/m grades. We will start our HDPE film deliveries as of tomorrow. However, the HDPE inj. production line is still shut and we will restart it as of the beginning of the next week. We believe that demand might witness some improvements ahead of the upcoming Eid-al-Adha holidays due to the high season for PE applications, especially for the plastic bags,” commented a producer source.