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Two more Mid-Eastern producers adjust Jan prices to Egypt

by ChemOrbis Editorial Team -
  • 19/01/2015 (16:44)
In Egypt, players saw more downward adjustments from the Middle Eastern producers this week. A distributor reported receiving $110-160/ton downward adjustments for PE and $220/ton adjustments for PP from a regional producer.

The Mid-Eastern producer issued $160/ton additional cuts for January LDPE film, $115/ton for LLDPE film and $110/ton cuts for HDPE grades. For PP, the producer’s prices indicate $220/ton decreases from their initial January levels.

The newly revised levels now stand at $1160/ton for LLDPE film, and at $1190/ton for HDPE film, blow moulding injection and LLDPE film on CIF Alexandria, 90 days basis. Meanwhile the producer offers PP raffia and injection at $1050/ton with the same terms.

“Despite the noticeable downward adjustments, players still abandon their import purchases as they see that prices keep recording relentless decreases. SIDPEC is to resume their deliveries again tomorrow and overall local availability remains comfortable. Meanwhile, locally held cargoes are also losing ground. Therefore, players anticipate decreases from the local producer SIDPEC for February, too,” commented the distributor.

On another note, a different Middle Eastern producer reported that they adjusted down their LDPE and LLDPE film offers by $80-90/ton when compared with their initial January levels. Now, the producer offers LDPE film at $1250-1260/ton, with the high end given for heavy duty LDPE film, and LLDPE c4 film at $1220/ton on CIF Alexandria, 90 days basis.

“All import offers are tracking a downward trend in Egypt and in order to maintain a competitive edge we, too, had to revise down our offer levels. Plus, overall demand is still weak and further decreases are anticipated into February,” a company source noted.
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