Egypt’s OPC reveals lower offers for June
by ChemOrbis Editorial Team - content@chemorbis.com
A source from one of Egypt’s local PP producers, OPC, reported that the producer announced its new PP raffia prices with decreases of EGP1430-1530/ton ($79-84/ton) from its latest May levels.
Accordingly, the producer’s new offers currently stand at EGP20,870-21,270/ton ($1152-1174/ton) on an ex- Ain Sokhna, cash not including VAT basis.
The source said, “We decreased our offers for June in line with softening import offers and muted demand during the month of Ramadan. We expect demand to improve as of the beginning of July, especially for our export cargoes as European players will be out of the market given the summer holidays in August and they will try to secure their needs before the holidays.”
Accordingly, the producer’s new offers currently stand at EGP20,870-21,270/ton ($1152-1174/ton) on an ex- Ain Sokhna, cash not including VAT basis.
The source said, “We decreased our offers for June in line with softening import offers and muted demand during the month of Ramadan. We expect demand to improve as of the beginning of July, especially for our export cargoes as European players will be out of the market given the summer holidays in August and they will try to secure their needs before the holidays.”
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