Egypt’s local HDPE and PVC producers issue new May prices
In the PE market, SIDPEC issued increases of EGP1000/ton ($113/ton) for HDPE film and blow moulding while they issued EGP600/ton ($68/ton) hikes on their HDPE injection prices. Now, the producer offers HDPE film at EGP13400/ton ($1509/ton), HDPE blow moulding at EGP13500/ton ($1521/ton) and HDPE injection at EGP13400-14000/ton ($1509-1577/ton) on an ex-Alexandria, cash excluding VAT, 60 days deferred payment basis.
A source from the producer reported, “Our increase decision came in line with the firmer global trend as we needed to adjust our prices according to the firmer emerging import offers. This week, we are planning to deliver HDPE blow moulding and we will deliver HDPE film as of next week. At the moment, we see very healthy demand towards our cargoes and we are running our plant at full capacity.”
In the PVC market, both EPC and TCI Sanmar issued their new offer levels with increases. EPC lifted their prices by EGP400/ton ($45/ton) from April to EGP8900/ton ($1003/ton) for k67-68 and to EGP9050/ton ($1019/ton) for k70 on an ex-Egypt, cash excluding VAT basis.
A source from EPC stated, “We lifted our prices given the globally firming PVC markets as well as the better demand we see towards our cargoes since most players have abandoned their import purchases and started to get their needs from the local market. We are currently operating our plant at full capacity and we deliver without any problems.”
Meanwhile, TCI Sanmar raised their k67-68 prices by EGP450/ton ($51/ton) to EGP9900/ton ($1014/ton w/o VAT) on an ex-Egypt, cash inc VAT basis. A source from the producer reported, “After having a brief shutdown, our plant is now operating smoothly. This week, the majority of players were away from their desks due to combining national holidays but we anticipate an improvement in demand as of next week."
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