Egypt’s OPC issues rollovers on PP for December

A source from one of Egypt’s local PP producers, OPC, reported that the producer announced its PP raffia prices with rollovers from its latest November levels. The producer’s December announcements followed EPPC’s pricing policy.

Accordingly, the producer’s offers are reported at EGP20,975-21,375/ton ($1175-1197/ton) on an ex- Ain Sokhna, cash not including VAT basis. The official exchange rate is used for the US dollar calculations.

The source noted, “Our plant is currently running at normal rates and we are making our deliveries to the market smoothly. However, we think that PP prices might start to increase as of the beginning of January due to the firmer propylene prices as well as our expectations of seeing better demand.”