Local LDPE and LLDPE film supplies tighten in Egypt

13-Jan-10

In Egypt, players reported that the overall LDPE and LLDPE c4 film availability in the local market has started to tighten leading to price increases as per Chemorbis. Locally held LLDPE c4 film prices moved up by US$45-109/ton on the week to US$1391-1482/ton without VAT. Meanwhile, LDPE film prices in the distribution market increased by about US$27-36/ton vs last week to US$1466-1516/ton with the same terms. These new prices moved significantly above the import market prices for LLDPE c4 film as the mainstream Middle Eastern offers for January are at US$1260-1340/ton on CIF Alexandria, 90 days deferred payment basis. Buyers report insufficient offers in the local market while they complain about the jump in the prices. Meanwhile, most sellers say that they are already sold out and they have no further availability to offer at the moment while some remark that they prefer to adopt a wait-and-see attitude as they believe that prices will record further increases.