Egyptian GPPS producer reveals Nov prices to Turkey
The Egyptian producer’s new prices vary between $1615-1685/ton CIF Turkey, cash, no duty depending on the tonnage. The low end is given for 3,000 tons and above while the upper end is valid for 500 tons or below, traders report. These prices represent $50-65/ton decreases from last month.
“We received lower prices for Egyptian GPPS this month, while we are not planning to replace any materials for now,” two traders opined. Another trader had already predicted that new Egyptian prices could come down to $1625/ton CIF, cash given falling crude oil prices and restricted buying interest. The Egyptian producer had previously complained about thin demand for their exports to Turkey during October.
Import GPPS prices currently stand at the lowest levels unseen since July 2012, according to ChemOrbis Price Index.
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