Nigerian ELEME raises April PP, PE prices
During March, the producer, had come with initial increases of NGN30,000/ton ($151/ton) for PE and NGN30,000-40,000/ton ($151-201/ton) for PP. However, later in the month, they issued further increases of NGN30,000-35,000/ton ($151-176/ton) on their PE prices and of NGN20,000/ton ($100/ton) hikes on their PP offers when compared to their initial March levels. The producer blamed their consecutive March increases on limited supplies given their shutdown, which occurred due to a technical glitch and took around two weeks.
Coming to April, players in the country reported receiving new prices with NGN35,0000 ($176/ton) increases from their latest March levels.
Now, ELEME’s new prices stand at NGN455,000/ton ($2284/ton) for LLDPE film, at NGN465,000/ton ($2334/ton) for LLDPE injection, NGN456,000/ton ($2289/ton) for HDPE film, NGN453,000/ton ($2274/ton) for HDPE b/m, NGN454,000/ton ($2279/ton) for HDPE injection, NGN412,000-420,000/ton ($2068-2108/ton) for PPBC injection, NGN392,000/ton ($1967/ton) for PP raffia and at NGN389,000/ton ($1952/ton) for PP injection on an ex-Port Harcourt, Nigeria, cash excluding 5% VAT basis.
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