Egyptian PVC producer maintains offer levels

17-Mar-10
A source from the local PVC producer EPC reported that the producer elected to maintain their offer levels for PVC k67-68 for the rest of the month at EGP5600/ton (US$1022) on ex-Alexandria, cash not including VAT basis, as per Chemorbis. This decision has been compelled by the demand situation as buying interest has not been performing well for the past few weeks. “We preferred to leave our offer levels equal to the cost of material that was imported earlier and is now entering the market,” he further clarifies. However, market participants were mainly expecting increases, pointing out that the producer had concluded good sales both in the local and export markets. Plus, the overall import market level was standing at an adjusted range of US$1015-1070/ton on CIF Alexandria, cash equivalent basis last week, showing that the local producer could also find ground from the import market to raise their prices.
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