Another roll over in prices by EPC

15-Apr-10

In Egypt, domestic PVC producer EPC, announced another rollover on offers for PVC k67-68 at EGP5600/ton (US$1015/ton) on ex-Alexandria, cash not including VAT basis, as per Chemorbis. The producer aims to maintain these offers for the rest of April. The company was reported to have halted operations for four days for maintenance, with restart expected next week. Locally held offers are at the same level as last week at EGP6200-6250/ton on ex-warehouse, cash including VAT basis, US$1022-1030/ton without VAT. Supplies in the domestic market are at comfortable levels, as buyers continue to prefer local offers over imports as they have a competitive edge with prompt availability advantage. The local market holds no premium against imports judging by the CIF, cash equivalent range of the locally held offers at US$992-1000/ton after deducting VAT and US$30/ton clearing and handling charges. On the other hand, import offers are at US$995-1015/ton on CIF Alexandria, cash equivalent basis.