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Egypt’s EIPET: We may restart soon

by ChemOrbis Editorial Team - content@chemorbis.com
  • 06/11/2015 (11:10)
Egypt’s local PET producer EIPET had halted their operations in the first week of May 2015. The producer had been delivering to the local market from their existing stocks at first, but reports from players indicate that availability of EIPET materials became scarce shortly afterwards.

Previously, EIPET had hinted that they might resume their operations by the end of this year. However, a source from the company made a fresh statement this week.

“The import PET market is more or less steady and global demand is moderate. We do not expect the market to witness any major changes until the end of the year. In Egypt’s local market, supplies are tight but buyers are not willing to make purchases from the import market given the higher dollar exchange rate, difficulties when obtaining dollars and letters of credit issues at banks. On another note, our plant is still shut but we are hoping to restart soon. However, we do not think that the restart will happen before the New Year. Considering the current market conditions, we also hope to be able to conclude good sales once we return to the market.”
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