Egypt HDPE at $1,800/t, up 3% on strong demand

06 February 2008 04:22  [Source: ICIS news]

SINGAPORE (ICIS news)--High density polyethylene (PE) prices in the Egyptian domestic market are up 3% in February from the previous month on strong demand from the packaging segment, producers and traders said on Wednesday.

HDPE prices in Egypt have risen to Egyptian pounds (£E) 10,000/tonne ($1,800/tonne) EXW (ex-works) following the hike, a producer said.

Tight availability has driven customers to accept the high domestic offers, traders said.

Egypt’s total PE consumption is estimated at 700,000 tonnes/year in 2008, while local production only totals 225,000 tonnes/year.

The only local producer is Sidi Kerir Petrochemicals Co (Sidpec), which runs a 225,000 tonne/year HDPE/linear low density PE (LLDPE) swing plant at Ameriya, near Alexandria.

For more on HDPE visit ICIS chemical intelligence

($1 = £E5.54)

By: Prema Viswanathan
+65 6780 4359

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