Egypt PVC prices rise 4.5% on strong demand

20 February 2008 12:42  [Source: ICIS news]

SINGAPORE (ICIS news)--Polyvinyl chloride (PVC) prices rose 4.5% month on month in the Egyptian domestic market in February, on the back of robust demand and tight supply, suppliers and traders said on Wednesday.

 

Prices increased by Egyptian pounds (£E) 300/tonne ($55/tonne) to £E7,000/tonne EXW (ex-works) as sentiment strengthened due to scarce availability, a supplier said.

 

A local supplier said it had no export cargoes available to offer the rest of the Middle East, as demand from Europe and Turkey was strong and its netbacks from these two regions were higher than those from the Middle East.

 

It had offered export cargoes at $1,150/tonne FOB (free on board) Egypt to customers in Italy, Greece and Turkey, it said.

 

($1 = £E5.49)

 

For more on PVC visit ICIS chemical intelligence

 

 

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Author: Prema Viswanathan
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