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Nigeria’s ELEME lowers August PP, PE prices

by ChemOrbis Editorial Team - content@chemorbis.com
  • 25/08/2015 (10:58)
As the month of August draws near to its end, Nigerian players reported receiving lower prices from the local producer ELEME. According to the players’ reports, the producer’s prices indicate NGN15,000/ton ($75/ton) drops for LLDPE film and injection, NGN10,000/ton ($50/ton) decreases for HDPE film, blow moulding and injection and NGN35,000/ton ($176/ton) cuts for PP raffia and injection.

Now, new prices from the producer stand at NGN335,000/ton ($1683/ton) for LLDPE c4 film, NGN345,000/ton ($1733/ton) for LLDPE c4 injection, NGN345,000/ton ($1733/ton) for HDPE film, NGN342,000/ton ($1718/ton) for HDPE b/m, NGN343,000/ton ($1723/ton) for HDPE injection, NGN313,000/ton ($1572/ton) for PP raffia and NGN310,000/ton ($1556/ton) for PP injection on ex- Port Harcourt, Nigeria, cash excluding 5% VAT basis.

At the beginning of August, the producer had rolled over their prices for the second consecutive month. However, demand was weak and most buyers said that they planned to postpone their purchases to the next month, although those who purchased mostly preferred to source from the local market given the increasing US dollar parity against the local currency, the naira.
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