Local PE producers issue Sept offers in Egypt
“We decided to rollover our prices as the overall market sentiment isn’t supporting any price increases due to tight liquidity and the parity problems. However, we are seeing good demand and this week, we are delivering HDPE film grade from our HDPE film and blow moulding swing line,” said the source.
SIDPEC’s new HDPE prices currently stand at EGP14300/ton ($1594/ton) for film, at EGP14400/ton ($1605/ton) for blow moulding and at EGP14000-14500/ton ($1560-1616/ton) for injection, all on ex-Alexandria, 60 days deferred payment excluding VAT basis.
Meanwhile, a source from Egypt’s other PE producer, the Egyptian Ethylene and Derivatives Company (ETHYDCO), reported that they elected to issue their September PE prices to the local market with increases from their most recent August levels.
The producer raised their local LLDPE c4 film prices by EGP500/ton ($56/ton) and by EGP250/ton ($28/ton) for HDPE film, bringing their new offers to EGP15100/ton ($1700/ton) and EGP14150/ton ($1593/ton), respectively on an ex-Alexandria, cash not including VAT basis. The official exchange rate is used for US dollar calculations.
“We decided to apply increases on our September offers as we are receiving a good number of inquiries and our cargoes are getting good feedback from the market. In addition, due to hampered import activities players prefer to meet their needs from the local market nowadays. Despite the rollovers issued by the Middle Eastern suppliers for this month, we think that our new offers are still competitive. We are operating our two lines and delivering to the market smoothly. We have also started exports recently. We are yet to set a date for shifting the production of the lines yet; however we are working on it," commented a producer source.
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