May PP, PE offers revealed in Nigeria’s local and import markets

In Nigeria, the country’s local producer, ELEME, revealed the new May offers with decreases when compared to initial April levels. PE offers were down by NGN39,700-40,000/ton ($86-87/ton), while PP offers were softer by NGN58,400-75,100/ton ($127-$163/ton).

According to market sources, operations are running smoothly at the producer’s plant, and they have sufficient supplies to deliver to their customers.

The producer is currently offering at NGN1,076,000/ton ($2570/ton) for LLDPE, NGN1,080,000/ton ($2580/ton) for HDPE film, NGN1,087,300/ton ($2597/ton) for HDPE b/m, NGN1,080,000/ton ($2580/ton) for HDPE inj., NGN1,069,000-1,105,400/ton ($2553-2640/ton) for PPBC, NGN1,010,900/ton ($2414/ton) for PPH raffia, NGN998,500-1,029,100/ton ($2385-2458/ton) for PPH inj., all on ex Port Harcourt city, cash basis.

On a related note, players in the import market reported new May offers with rollovers to $70/ton decreases for PE and $40-70/ton decreases for PP when compared to initial April levels.

May import offers are currently standing at $1170-1180/ton for PPH raffia and inj., $1250-1260/ton for PPBC, $1220-1230/ton for PPH film and fibre., $1360-1370/ton for PPRC, $1380-1390/ton for LDPE, $1250-1260/ton for LLDPE, $1300/ton for HDPE film, $1360-1370/ton for HDPE b/m and inj., all on a CFR Nigeria, cash, subject to 10% customs duty basis.