Local PE and PVC producers issues June prices to Egypt
In the PVC market, one of the PVC producers, EPC, cut their prices by EGP200/ton ($26/ton) to EGP7800/ton ($1023/ton) for PVC k67-68 and to EGP7950/ton ($1042/ton) for k70 on ex-Alexandria, cash not inc VAT basis. This decrease was expected given retreating import prices for US PVC as well as declining demand ahead of the impending Ramadan, which is a slow season for many PVC applications.
A source from the company noted, “When considering the softer trend in global PVC markets and retreating local demand in Egypt, we elected to decrease our prices. Our plant, however, is running at full rates and we are delivering without any problems. Nevertheless, cash flow problems continue to undermine our business as buyers only prefer to meet their immediate needs.” The source also added that they are not planning to export any PVC for another month.
In the PE market, the local producer SIDPEC rolled over their prices at EGP12800/ton ($1678/ton) for HDPE film, EGP12900/ton ($1691/ton) for HDPE blow moulding and at EGP12700-12900/ton ($1665-1691/ton) for HDPE injection on an ex-Alexandria, cash not inc VAT basis.
A source from the producer said, “Slow market activity and retreating demand ahead of Ramadan led us to lower our prices. There are some liquidity issues in the market which are hindering purchases. Demand was good in May but it is likely to slow during Ramadan. However, we continue to supply the market and this week we are set to deliver HDPE blow moulding. We will deliver HDPE film for only urgent inquiries as we have very limited stocks for this product.”
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