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Nigerian distributor: Korean import PE prices more competitive

by ChemOrbis Editorial Team -
  • 04/12/2014 (12:15)
In Nigeria, a distributor received new import offers for December. They obtained new PE offers from Middle Eastern producers with $60-90/ton decreases but they still find South Korean PE prices more competitive when compared with Middle Eastern offers.

The distributor received Middle Eastern HDPE film at $1550/ton, LDPE film at $1560/ton and LLDPE film at $1530/ton on a CIF Lagos, Nigeria, 90 days basis. Meanwhile, they received South Korean HDPE film at $1500/ton, LDPE film at $1560/ton and LLDPE film at $1480/ton with the same terms. “South Korean HDPE and LLDPE film offers are more competitive,” he added. According to the distributor, South Korean offers are down $100/ton when compared with the latest offers they received from this country.

Meanwhile, the distributor also received PP prices from the Middle East with $100/ton drops at $1530/ton for PP raffia and injection and at $1530-1540/ton for PPBC injection with the same terms.

“We only received new prices from a major Saudi producer and we are yet to receive prices from other Middle Eastern producers. Considering lower crude oil and naphtha prices and competitive South Korean PE offers, we are expecting to see further decreases on prices. On another note, the Saudi producer’s quotas are sufficient and players are able to negotiate discounts, especially if they purchase in large volumes, because the producers are open to negotiations. Overall demand is not bad but the Christmas and New Year holidays may slow it down a bit.”
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