Import and local PP, PE prices for March announced in Nigeria, Kenya
ELEME’s latest offers are reported at NGN527,000/ton ($1456/ton) for PP raffia, NGN 543,000-549,000/ton ($1500-1517/ton) for PPBC inj. and NGN521,000/ton ($1439/ton) for PP inj., NGN453,000/ton ($1251/ton) for LLDPE c4 film, NGN475,000/ton ($1312/ton) for HDPE film, NGN474,000/ton ($1309/ton) for HDPE b/m and NGN460,000/ton ($1271/ton) for HDPE inj. on an ex Port Harcourt city, cash excluding 5% VAT basis.
Meanwhile, a major Saudi producer’s new offers were more or less stable from February at $1280/ton for PPBC inj., $1170/ton for HDPE film, $1080-1130/ton for LDPE film, and $1030/ton for LLDPE c4 film, all on CFR Lagos, cash basis.
High inventory levels and slow demand were cited as the main reasons behind the Saudi major’s mostly steady offers.
A different Saudi producer’s new PP raffia offers to Nigeria were also mostly unchanged at $1190/ton, with the same terms.
In Kenya, a converter received March offers from the Saudi major at $1180/ton for PP inj., $1150-1160/ton for HDPE film, and $1140/ton for HDPE b/m, all on CFR Mombasa, Kenya, 90 days basis.
A different Saudi producer announced new HDPE film and PP raffia offers at $1130-1140/ton and $1180/ton respectively and a competitive US HDPE b/m offer was reported at $1050/ton, with the same terms.
“The market is very slow and players are keeping their purchases to the bare minimum amidst lengthy supplies,” the converter stated. He also added that buyers are expecting to wrap up their deals with Saudi suppliers at lower levels, in view of competitively priced offers from the US producers.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- 3-digit hikes in Oct PVC offers reinforce supply-driven bullishness in Asia
- Crude oil caught between demand woes and production disruption
- Tightness drives European PVC market up, prices near pre-pandemic levels
- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
- China's import PP markets maintain uptrend under shadow of oil-driven losses in Dalian futures
- Weaker domestic demand prompts Vietnam to export polymers
- European PP market ceases upward trend in September
- Force majeure declarations rock the boat in Turkish PVC market
- China’s PE uptrend fueled by US force majeures; LDPE soars to more than 1-year high