Import and local PP, PE prices for Jan announced in Nigeria, Kenya
ELEME’s latest offers stand at NGN541,000-557,000/ton ($1488-1532/ton) for PPBC, NGN527,000/ton ($1449/ton) for PP raffia and NGN520,000/ton ($1430/ton) for PP inj. on an ex Port Harcourt city, cash excluding 5% VAT basis. The producer’s PE prices remained unchanged from its previous levels NGN453,000/ton ($1246/ton) for LLDPE c4, NGN500,000/ton ($1375/ton) for HDPE film, NGN499,000/ton ($1372/ton) for HDPE b/m and NGN480,000/ton ($1320/ton) for HDPE inj. with the same terms.
Meanwhile, a converter in Kenya reported receiving new PP and PE offers from a Saudi major at $1200/ton for PP inj., raffia, and HDPE film, and at $1150/ton for LDPE film, all on CFR Mombasa, Kenya, 90 days basis.
The converter noted that demand is currently slow given the post-holiday period, with most players still away from their desks. "We are unsure about the upcoming market trend, but we do not expect to see major changes amidst the softening costs and volatile crude oil prices. We are waiting to receive more offers for January before we start making fresh purchases," he added.
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