Egypt’s TCI Sanmar issues three digit PVC hikes for mid-March

One of Egypt’s local PVC producers, TCI Sanmar, issued very large increases of EGP1100/ton ($122/ton) on their k67-68 offers. The producer now offers at EGP8900/ton ($904/ton w/o VAT) on an ex-Port Said, cash including VAT basis.

A source from the producer commented, “We consider this price rise more like a correction than a hike as our prices have only just now reached levels near to par with the import market after adding estimated clearing and handling charges. We see good demand towards our cargoes since buyers are mostly shying away from import market purchases given the difficult import processes amidst higher USD exchange rates. At the moment, we are running our plant at normal rates and our export trade performs regularly, especially to Turkey.”

Prior to TCI Sanmar’s announcement, EPC had also elected to lift their mid-March levels. However, this producer’s increase amount was rather modest at EGP500/ton ($56/ton). EPC offers k67-68 at EGP7600/ton ($849/ton) and k70 at EGP7750/ton ($866/ton) on ex-Alexandria, cash excluding VAT basis.