Egypt’s OPC: We have sufficient PP supplies
The source continued, “We have been operating our plant since September 15, 2015 and we experience no supply issues at all. Our deliveries are proceeding without any problems and we are running our plant at full capacity. 50% of our production goes to the local market and the rest of our production goes to export destinations, which include 11 different international markets. Regarding our December prices, we are most likely to announce them next week.”
In the local market, distributors’ offers for Egyptian PP raffia cargoes stand at EGP11200-11400/ton ($1300-1324/ton w/o VAT) on ex-Egypt, cash inc VAT basis, recording up to EGP500/ton ($64/ton) decreases on the week.
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