Egypt’s local PP producers announce November prices
According to players’ reports, EPPC revealed their new November prices at a rollover at $1130/ton for raffia and at $1150/ton for fibre ex-works Port Said, cash basis. A source from the producer reported seeing good demand although they highlighted that they feel that buyers are still struggling when trying to obtain US dollars. “Our operations are proceeding smoothly and we hold comfortable stocks,” added the source.
Meanwhile, the other PP producer OPC’s prices were also reported in the local market. The producer, who was offering at EGP11250/ton in October, issued EGP650/ton ($81/ton) increases on their raffia prices, bringing their new prices to EGP11900/ton ($1345/ton w/o VAT) on ex-Egypt, cash inc VAT basis.
A converter who received the new levels from this producer commented, “Local supplies are more comfortable than before, but demand remains slow.”
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