Egypt's SIDPEC announces May HDPE offers after plant restart

02 May 2012 17:07  [Source: ICIS news]

LONDON (ICIS)--Egypt’s Sidi Kerir Petrochemicals Co (SIDPEC) has announced its May high density polyethylene (HDPE) offers after fully restarting its 225,000 tonne/year HDPE plant in Alexandria on 28 April, the company said on Wednesday.

SIDPEC has resumed its offers for HDPE film and blow-moulding grades after suspending them in April because of a month-long plant shutdown. May offers for both grades are at Egyptian pounds (£E) 9,700/tonne ($1,606/tonne) ex-factory, excluding a 10% tax.

Inection grade HDPE offers from the producer decreased from £E9,700-9,850/tonne ex-factory, excluding a 10% tax, in April, to £E9,450-9,600/tonne in May

The Alexandria plant was shut on 20 March for annual maintenance.

May HDPE import offers into Egypt are at rollover, but prices are under downward pressure because of a bearish sentiment in the key markets of China and Europe.

Prices were assessed at $1,500-1,520/tonne CFR Egypt on 2 May.

($1 = £E6.04)

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

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