Egypt's SIDPEC to shut PE plant in March for annual maintenance

15 February 2012 14:19  [Source: ICIS news]

LONDON (ICIS)--Egypt’s Sidi Kerir Petrochemicals Co (SIDPEC) will put its high density polyethylene (HDPE) plant on turnaround on 20 March, the company said on Wednesday.

“It is an annual shutdown for maintenance. The time of the annual shutdown [each year] depends on the plant situation,” a source at the company said.

SIDPEC, which increased its HDPE offers into the domestic market in February, said the turnaround will last for a month.

February film and blow-moulding grade HDPE offers from the producer increased by Egyptian pounds (£E) 400/tonne ($66/tonne) (€51/tonne) to £E9,000/tonne ex-factory, excluding 10% tax.

Injection grade HDPE increased by £E500/tonne to £E8,650–8,750/tonne ex-factory, excluding 10% tax.

PE demand in Egypt is sluggish as the country struggles with a slow business environment and an uncertain political landscape.

Import offers for PE into Egypt and the rest of Africa have increased by up to $70/tonne in February.

The increase in offers is caused by a bullish market sentiment in the key PE markets of China and Europe.

($1 = £E6.03)

(€1 = £E7.89)

For more on PE visit ICIS chemical intelligence 

 

By: Cuckoo James
+44 (0) 208 652 3214

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