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Egypt’s E-Styrenics hints at August PS pricing

by ChemOrbis Editorial Team -
  • 27/07/2015 (17:20)
In Egypt, the local producer E-Styrenics, who has been facing feedstock issues since May, had resumed their July prices to the local market with $50/ton decreases. The producer, who offers GPPS at $1530/ton on ex-works Dekhela, cash without VAT basis, was also offering in Egyptian pound terms at EGP12330/ton ($1575/ton) with the same terms given the ongoing deprecation of the EGP against the USD.

This week, a source from E-Styrenics said that they are keeping their July prices stable but added that they might consider a price reduction for August given the globally decreasing trend. “We are still experiencing a styrene monomer shortage and therefore, our plant is still shut. We are not sure when we will be able to restart our plant. Coming back to the market, overall demand has performed very badly during July both in the local and export markets. The Ramadan holidays in Egypt and Turkey further slowed down trade. Buyers, expecting further decreases in the days ahead, prefer to be sidelined from the market,” he added.
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