Nigeria’s ELEME announces July PP, PE prices
According to him, the producer elected to lower their prices by NGN10,000/ton ($35/ton) for PE and by NGN20,000/ton ($71/ton) for PP, bringing their new offers to NGN505,000/ton ($1789/ton) for LLDPE film, to NGN520,000/ton ($1843/ton) for LLDPE injection, to NGN506,000/ton ($1793/ton) for HDPE film, to NGN503,000/ton ($1782/ton) for HDPE b/m, to NGN504,000/ton ($1786/ton) for HDPE injection, to NGN462,000-475,000/ton ($1637-1683/ton) for PPBC injection, to NGN432,000/ton ($1531/ton) for PP raffia and to NGN429,000/ton ($1520/ton) for PP injection, all on an ex-Port Harcourt, Nigeria, cash excluding 5% VAT basis.
Prior to their July announcements, the producer had issued upward adjustments of NGN15,000-25,000/ton ($53-88/ton) on their June PP and PE prices on the back of healthy demand towards their domestic cargoes amidst hindered import activities.
A trader opined, “The local producer stepped back from their firm stance and issued decreases on their prices for July after the naira appreciated against the US dollar in the black market. Demand for ELEME’s products remains healthy.”
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