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Nigerian player: December imports lose ground

by ChemOrbis Editorial Team -
  • 14/12/2015 (16:59)
A player operating in Lagos, Nigeria, reported that December import prices are finally surfacing in the market. According to him, a major Saudi Arabian producer’s new offers indicate over $100/ton decreases from their November levels for both PP and PE.

The producer’s new prices stand at $1150-1170/ton for LDPE and HDPE film and at $1000-1020/ton for PP raffia and injection CFR Lagos, Nigeria, cash subject to 10% customs duty.

“The producer’s new December offers recorded more than $100/ton decreases from November levels. Overall demand is slow and the local currency continues to lose ground against the US dollar, hampering import activities further and giving the local producer ELEME an advantage in terms of sales.”

Meanwhile, the local producer ELEME had issued their December PP and PE prices with rollovers from their November levels at the beginning of the month.
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