Egypt’s local PP producers announce May prices
OPC raised their prices by EGP1700/ton ($192/ton) to EGP12950-13350/ton ($1459-1504/ton w/o VAT) on an ex-Ain Sokhna, Egypt, cash excluding VAT basis.
A source from the producer commented, “We lifted our prices in line with firming levels in the local market given the depreciating EGP against the USD. At the moment, we run our plant at full capacity and we are planning to deliver both to local and export markets this month.”
Meanwhile, EPPC’s prices indicated $110/ton hikes from April at $1130/ton for PP raffia and at $1150/ton for PP fibre on an ex-works Port Said, cash basis.
A source from the producer said, “Our increase decision was influenced by the firmer May import levels announced by Middle Eastern producers. Meanwhile, we are running our plant smoothly.”
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