Egypt’s local PVC and PE producers issue April prices
In the PVC market, EPC kept their prices stable at EGP8000/ton ($1049/ton) for PVC k67-68 and at EGP8150/ton ($1069/ton) for PVC k70 on an ex-Alexandria, cash excluding VAT basis. Meanwhile, the producer’s PVC and VCM shutdowns are still in place. A source from the producer commented, “We are planning to resume our operations by mid-April and we might opt for an increase then.” Despite the producer’s claims of being able to deliver to the market, but only in very small amounts due to their shutdowns, players report there is no availability whatsoever from the producer.
Meanwhile, Egpyt’s other PVC producer, TCI Sanmar, also issued rollovers for PVC k67-68 at EGP8850/ton ($1055/ton without VAT) on ex-Port Said, cash inc VAT basis. “We are delivering to the local and export markets without any problems and we see good local demand,” a producer source added. According to the source, demand in one of their export destinations, Turkey, is slow, but has recently started to give signs of improvement. The source also noted that they issued increases on their export offer levels.
In the PE market, local producer SIDPEC issued increases of EGP1100/ton ($144/ton) on their HDPE film and blow moulding offers at EGP12000/ton ($1573/ton) and at EGP12100/ton ($1586/ton), respectively, while they issued increases of EGP800-1100/ton ($105-144/ton) on their HDPE injection offers at EGP11900-12100/ton ($1560-1586/ton) on ex-Alexandria, cash not inc VAT basis.
A source from the producer commented, “These increases are a result of tight supplies and the globally increasing trend. Overall buying interest has been recovering throughout March and we are not holding adequate stocks. At the moment, we deliver to the market from our daily production and we currently supply HDPE b/m. We are planning to shift our production to HDPE film as of this Sunday.” According to the source, their pant is running at full capacity.
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