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Egypt’s E-Styrenics shifts to offering on EGP basis

by ChemOrbis Editorial Team - content@chemorbis.com
  • 22/09/2016 (11:03)
A source from Egypt’s local PS producer, E-Styrenics reported that the producer started to give their offers on an EGP basis. Previously, the producer had been giving their offers on US dollar terms.

“We issued increases on our September offers and we started to give offers on an EGP equivalent basis in order to support and help the market players amid the dollar parity issues and difficulties in opening letter of credits. Our cargoes are seeing good demand in the local market while our export activities are still muted as our prices are still considered to be a bit high,” commented the producer source.

Currently, the producer’s GPPS offers are standing at EGP14045-14510/ton on an ex-works Dekheila, cash basis. Meanwhile, the producer’s offers on dollar terms are at $1505-1555/ton with the same terms.
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