Egypt’s SIDPEC starts year with further hikes
The producer increased its HDPE film offers by EGP2800/ton ($154/ton), b/m offers by EGP3000/ton ($165/ton) and injection low MFI (melt flow index) prices by EGP3500/ton ($193//ton) from the previous month.
A producer source cited globally strong market sentiment and their increased costs due to the stronger dollar parity as the main reasons behind their new increases. “This year, we are not planning to produce HDPE inj. high MFI given poor demand on this grade, but maybe we will restart producing it again as of 2018. Meanwhile, our cargoes are seeing good demand. This week we’re going to deliver HDPE b/m cargoes to the market, but we’ll be delivering HDPE film cargoes from our HDPE film and b/m swing line in the following two weeks,” added the source.
SIDPEC’s January HDPE prices currently stand at EGP21200/ton ($1129/ton) for film, at EGP21500/ton ($1045/ton) for blow moulding and at EGP21000/ton ($1118/ton) for injection, all on ex-Alexandria, 60 days deferred payment excluding VAT basis.
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