Import PE offers from Mid-East emerge for Nov in Nigeria

In Nigeria, import PE offers from the Middle East emerged with decreases of up to $70/ton in line with comfortable supply levels.

A Saudi producer’s PE prices stand at $1250/ton for LLDPE film and $1310-1320/ton for LDPE film CFR Lagos, cash, down by $50/ton and $60/ton respectively compared to the October levels. A different Saudi producer, meanwhile, is offering HDPE film with $70/ton decreases from last month at $1230/ton with the same terms.

A distributor opined, “ELEME has large stocks of PE, which forced them to apply rollovers while they applied increases on PP grades. They are delivering smoothly to the market. Moreover, demand has started to improve in line with the high season that usually starts in November and last until May.”