Egypt’s OPC issues significant hikes on its November PP prices

A source from one of Egypt’s PP producers, OPC reported that the producer introduced significant increases on their new PP raffia prices for November. Accordingly, the producer’s offers increased by EGP4710/ton ($305/ton) from the October levels.

The producer’s new offers currently stand at EGP18460-18860/ton ($2079-2124/ton) on an ex- Ain Sokhna, cash not including VAT basis.

The source said, “We raised our offers in line with improving demand on our cargoes from the local buyers as well as from our export destinations. The plant is running at full rates and our deliveries are going smoothly.”