Egypt’s local PVC producers issue mid-October prices
Now, EPC offers PVC k67-68 at EGP7200/ton ($920/ton) and k70 at EGP7350/ton ($939/ton) on ex-Alexandria, cash inc VAT basis. Meanwhile, TCI Sanmar offers k67-68 at EGP7900/ton ($917/ton w/o VAT) on ex-Port said, cash inc VAT basis.
A source from TCI Sanmar noted seeing improved demand towards their cargoes. “We also considered the depreciating EGP against the US dollar and ongoing issues when trying to open letters of credit at banks. We see better export demand from Asia,” he added.
Meanwhile, a source from EPC remarked, “We are happy with our sales performance. Stagnant import demand, triggered by difficulties when trying open letters of credit at banks, helped our sales. Plus, the recent upward movements on the US dollar parity caused buyers to turn to the local market where they can purchase cargoes on EGP terms. We currently run our plant at full capacity and we are not making any export sales since we see good demand in our own local market. Plus, we hold sufficient stock levels and we deliver without any problems.”
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