Egypt’s PS producer reveals new March prices
During the past week, market players were already anticipating lower March prices from the producer. The producer’s new FOB Dekhelia, cash basis prices indicate $10-30/ton decreases from their latest February levels at $1250/ton for materials above 504 tons and at $1280/ton for quantities below 504 tons. Meanwhile, the producer also offers at $1300/ton for cargoes below 120 tons. Their overall export prices stand at $1250-1300/ton for this month.
Meanwhile, E-Styrenics continues to deliver from their factory directly without the help of their local arm ECHEM. Their ex-works prices stand at $1230-1260/ton on cash basis. The low end of the range is given for quantities above 504 tons and the high end of the range is given for quantities below 504 tons. The producer also offers at $1280/ton with the same terms for purchases below 120 tons. E-Styrenics ex-works prices stand $20/ton below their FOB basis offers and stand at $1230-1280/ton.
A company source reported, “Given our high offer levels in February we did not see satisfactory demand. Therefore, in March, we opted for lower prices. However, we continue to hold supplies and we are not planning to restart our plant before the end of March or early April as we are waiting for our styrene cargoes to be delivered. At the moment, we see better demand from our customers.”
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