Egypt’s SIDPEC rolls over November PE prices

Egypt’s local PE producer SIDPEC has announced its new HDPE b/m, film and injection offers with rollovers from its latest offers in October.

Accordingly, SIDPEC’s November offers are reported at EGP22,700/ton ($1286/ton) for HDPE blow molding, EGP22,600/ton ($1280/ton) for HDPE film and EGP22,500/ton ($1275/ton) for injection, all on ex-Alexandria, 60 days deferred payment excluding VAT basis.

A producer source reported that they elected to keep their prices unchanged as the market lacks support for a price hike in the midst of relatively stable import offers and slow trading activities. He reported, “This week, we will be delivering HDPE b/m cargoes; however, our HDPE film deliveries will not be halted as we have good stocks. We are running our plant at full rates and we hope to see better demand. However, tight liquidity continues to hamper smooth trading.”