Nigeria’s ELEME reveals PP, PE offers for September

According to some players in the region, Nigeria’s local producer ELEME rolled over its PE prices for September for a second consecutive month while the producer applied increases of NGN12,000/ton ($33/ton) for homo PP raffia and injection and smaller increases of NGN8,000/ton ($22/ton) for PPBC inj.

Accordingly, ELEME’s new offers are currently standing at NGN507,000/ton ($1401/ton) for HDPE film, at NGN504,000/ton ($1393/ton) for LLDPE c4 film and for HDPE b/m, at NGN505,000/ton ($1396/ton) for HDPE inj., at NGN491,000/ton for ($1357/ton) for PP raffia, at NGN484,000/ton ($1338/ton) for inj. and at NGN503,000-519,000/ton ($1390-1435/ton) for PPBC inj., all on an ex-Port Harcourt, Nigeria, cash excluding 5% VAT basis.

The producer’s September PP pricing was in line with the earlier expectations despite sluggish end-business and the naira’s fluctuations. A distributor predicted, “Overall market expectations were calling for some hike attempts from the producer especially for PP as the producer’s PP offers were steady since mid-July whereas overseas producers issued firm PP offers.”