Egypt’s local HDPE, PVC producers issue Feb prices
In the PVC market, EPC 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-Alexandria, cash excluding VAT basis, for the first half of the month. A source from the producer commented, “The decrease decision was in line with softer import market levels as well as thin demand. Plus, we see that global PVC demand is also bearish and we felt like we had to cope with the general market sentiment. On another note, our allocations are still comfortable and our deliveries are proceeding smoothly.”
Meanwhile, in the PE market, SIDPEC issued rollovers on their February HDPE prices. The producer continues to offer HDPE film at EGP10500/ton ($1341/ton), HDPE b/m at EGP11000/ton ($1405/ton) and HDPE injection at EGP11000-11500/ton ($1405-1469/ton) on an ex-Alexandria, 60 days deferred payment basis exc VAT basis.
A source from the producer commented, “We had issued very large decreases back in January and therefore, we decided to rollover our prices for February. Plus, the ongoing high parity issues continue to hamper the import trade while lifting the costs of imported cargoes in the local market. This was another reason why we decided to maintain our levels. We see relatively good demand and our deliveries are proceeding smoothly since we can deliver all HDPE products to the market this week. Yet, our HDPE film stocks are rather limited when compared with other HDPE grades because our HDPE film/blow moulding swing line is currently producing blow moulding grade.”
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