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Egypt’s PET producer EIPET: No restart on the horizon

by ChemOrbis Editorial Team -
  • 03/03/2016 (16:44)
A source from Egypt’s local PET producer EIPET commented on the PET market and said that PET prices are rising globally on the back of firmer upstream markets.

“We are expecting prices to track a stable to firmer trend in the upcoming months given the approaching high summer season. However, our plant is still shut and we have no plans to restart over the near term. We still have a little bit of a stock left and we deliver to the market from our inventories,” he added.

EIPET had halted their operations in the first week of May 2015 and initially hinted that they might resume their operations by the end of 2015. However, these plans did not materialize since the producer later on revealed that the restart would not take place before 2016 and even by then, they needed consider the market conditions.
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