Import and local PP, PE prices for Feb announced in Nigeria, Kenya
ELEME’s latest offers stand at NGN517,000/ton ($1424/ton) for PP raffia and NGN510,000/ton ($1405/ton) for PP inj., NGN453,000/ton ($1248/ton) for LLDPE c4 film, NGN475,000/ton ($1309/ton) for HDPE film, NGN474,000/ton ($1306/ton) for HDPE b/m and NGN460,000/ton ($1267/ton) for HDPE inj. on an ex Port Harcourt city, cash excluding 5% VAT basis.
"The new offers came in line with our expectations as trading activity is stumbling amidst the ongoing political and economic instability ahead of the general elections in the country,” commented an end product manufacturer.
Meanwhile, a distributor reported receiving steady to higher prices from two Saudi producers, but noted that buyers might be able to achieve lower deals given the unfavorable market conditions.
Accordingly, a major Saudi producer’s February offers stood at $1280/ton for PPBC inj., $1150-1170/ton for HDPE film, $1070/ton for LDPE film, and $1040/ton for LLDPE c4 film, all on CFR Lagos, cash basis.
A different Saudi producer also announced its new PP raffia and inj. offers to Nigeria at $1200/ton, with the same terms.
In Kenya, the Saudi major announced new offers with mostly rollovers at $1170-1200/ton for PP raffia and inj., $1220/ton for PP film, $1180-1200/ton for HDPE film, $1230/ton for HDPE b/m, $1050/ton for LLDPE c4 film and $1130-1150/ton for LDPE film, all on CFR Mombasa, Kenya, 90 days basis.
The overall price range for PP raffia and inj. from two other Saudi producers were at $1210-1215/ton, and an Indian-origin PP raffia and inj. was also offered at $1220/ton, with the same terms.
A converter stated that end business demand has remained disappointing and they expect prices to hover around their current levels until the end of the month.
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