UK based company to supply styrene to Egypt’s E-Styrenics
The Egyptian producer, who has a total PS production capacity of 200,000 tons/year, which is divided evenly by 100,000 tons/year between GPPS and HIPS, has kept its plant shut since April 2015 due to styrene monomer constraints.
This week, the company revealed that they reached an agreement with a UK based company as they signed an annual contract for the supply of styrene. New Perspective is to supply E-Styrenics with roughly 100,000 tons of styrene and the British company will have the marketing rights for E-Styrencis’ production for both the export and local markets.
“We have not made any production plans yet but we expect to resume our operations within the next two months. Currently our notional prices are very competitive since Asian imports have been recording very large increases in line with firmer styrene costs in that region,” added the source.
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