Nigeria’s ELEME reveals December PP, PE prices
A plastic end product manufacturer operating in Nigeria commented, “Despite the globally softening trend, the local producer ELEME elected to maintain their prices on the back of higher exchange rates. The high Naira/dollar exchange rate is preventing local market prices from decreasing due to the high cost of imports. In general, supplies are available in the market and we see relatively better end product demand. However, we do not expect any revival in the market given the approaching year-end.”
ELEME’s current prices stand at NGN330,000/ton ($1656/ton) for LLDPE injection and HDPE film, at NGN320,000/ton ($1606/ton) for LLDPE film, at NGN327,000/ton ($1641/ton) for HDPE b/m and at NGN328,000/ton ($1646/ton) for HDPE injection on an ex-Port Harcourt, Nigeria, cash excluding 5% VAT basis. Meanwhile, the producer continues to offer PP raffia at NGN293,000/ton ($1471/ton), PP injection at NGN290,000/ton ($1456/ton) and PPBC injection at NGN297,000-305,000/ton (1491-1531/ton) with the same terms.
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