Egypt’s TCI Sanmar reveals PVC prices for February
A source from the producer commented, “Demand is still slow in Egypt, but given the difficulties when opening letters of credit at banks, we anticipate that buying interest will improve in the days ahead since most players are turning to the local market to meet their needs. Meanwhile, our operations are proceeding smoothly and we hold sufficient quotas for both local and export markets.”
Prior to TCI Sanmar’s announcements, EPC also had opted for a decrease on their PVC offers for the first half of February. The producer had cut their prices by EGP300/ton ($38/ton) to EGP6800/ton ($868/ton) for k67-68 and to EGP6950/ton ($888/ton) for k70 on an ex-Alex., cash excluding VAT basis. A source from the producer had highlighted the globally bearish trend as the reason for their decrease decision and added that they are holding comfortable stocks to deliver to the market.
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