Egypt’s local PVC and HDPE producers reveal March prices
In the PVC market, EPC issued EGP300/ton ($38/ton) increases on their prices for the first half of March. The producer now offers PVC k67-68 at EGP7100/ton ($907/ton) and k70 at EGP7250/ton ($926/ton) on an ex-Alexandria, cash excluding VAT basis.
A source from the producer commented, “We took an increase decision on the back of higher import market levels as well as the improved buying interest we see towards our cargoes. We are still supplying our customers from our daily production and we deliver without any problems. Like past months, we have no export plans for March since we are able to obtain better margins in our own local market.”
Meanwhile, in the HDPE market, the local producer SIDPEC also revealed higher prices for March. The producer issued EGP600/ton ($77/ton) hikes on HDPE film and injection and EGP200/ton ($26/ton) increases for HDPE blow moulding. Now, the producer’s offers stand at EGP11100/ton ($1418/ton) for HDPE film, EGP11200/ton ($1430/ton) for HDPE blow moulding and at EGP11600-12100/ton ($1481-1545/ton) for HDPE injection on an ex-Alexandria, 60 days deffered payment excluding VAT basis.
A source from the producer stated, “Our increase decision came in line with the globally firming trend. New March levels from Middle Eastern producers have already started to surface with increases. At the moment, our deliveries proceed smoothly and we are planning to deliver HDPE film to the market until March 13 and then we will be delivering HDPE blow moulding. Demand has been improving slowly but gradually since the beginning of February and we believe that, in line with approaching high season, we will be seeing further improvements in the days ahead.”
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