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E-Styrenics starts offering on Egyptian pound basis for July

by ChemOrbis Editorial Team -
  • 13/07/2015 (17:53)
A source from E- Styrenics, who has been facing feedstock issues since May and only delivers in small amounts to the local market, reported that they lowered their July prices to the local market by $50/ton. Apart from issuing decreases in order to cope with weak market conditions, the producer also elected to offer on an Egyptian pound basis this month. The depreciation of the pound against the US dollar, as a result of the Egyptian Central Bank’s money policies, had an impact on the producer’s decision.

“Overall demand remains weak ahead of the approaching Ramadan holiday while lower import offers also make it difficult to compete in the market. Yet, we hold very limited quotas from the previous months and we are still facing a styrene shortage and are unable to carry on with our production.”

E-Styrenics offers GPPS injection at $1530/ton and at EGP12330/ton ($1575/ton) on an ex-works Dekhela, cash without VAT basis.
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