Egypt’s local PE producers announce April prices higher to local market

In Egypt, local PE producers announced their new April PE prices with increases. Egypt’s SIDPEC applied an increase of EGP700/ton ($39/ton) on its prices while ETHYDCO announced its new prices with increases of EGP800-1400/ton ($44-77/ton) to the local market.

Accordingly, SIDPEC’s offers were reported at EGP22,200/ton ($1369/ton) for HDPE film, EGP22,500/ton ($1388/ton) for HDPE blow molding and EGP22,000/ton ($1357/ton) for injection, all on ex-Alexandria, 60 days deferred payment excluding VAT basis.

The source cited the stronger new import offers and the good demand on their products as the main reasons behind the recent increases. "We will deliver HDPE b/m grades this week from our HDPE film and b/m swing line. Also, demand is good for our cargoes and our plant is running at full rates," he added.

Another local PE producer, ETHYDCO, increased its local prices by EGP1400/ton ($77/ton) for LLLDPE film, by EGP800/ton ($44/ton) for HDPE film and EGP1000/ton ($55/ton) for HDPE inj., bringing its new offers to EGP24,000/ton ($1494/ton) for LLDPE film, to EGP22,000/ton ($1369/ton) for HDPE film and b/m, all on an ex-Alexandria, cash not including VAT basis. The official exchange rate is used for the US dollar calculations.

"We increased our offers in line with the firming import offers. In addition, demand is improving as players are returning to the local market to meet their needs in order to avoid the parity struggles. The inquiries we have received for this month so far are promising as well," the source added.