Nigeria’s ELEME rolls over PE, raises PP
Accordingly, ELEME’s new offers are standing at NGN723,000/ton ($2297/ton) for HDPE film, at NGN717,000/ton ($2278/ton) for LLDPE film, at NGN720,000/ton ($2287/ton) for HDPE b/m, at NGN721,000/ton ($2290/ton) for HDPE inj., at NGN656,000/ton for ($2084/ton) for PP raffia, at NGN649,000/ton ($2062/ton) for inj and at NGN689,000-705,000/ton ($2189-2239/ton) for PPBC inj, all on an ex-Port Harcourt, Nigeria, cash excluding 5% VAT basis.
Another manufacturer also reported receiving import PP offers for March shipment from a regional supplier at $1280-1290/ton on a CFR Lagos, cash basis.
“Demand was good until the end of January, but it started to weaken as of February. In addition, problems in the import market still exist as the dollar parity is uncontrollably increasing at the black markets and the gap is widening between the official banks’ levels and the black market. Nowadays, banks aren’t providing dollars to the players,” added the converter.
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