S. Korean PP, PE prices for Jan surface in Nigeria
“We are yet to receive new Middle Eastern offers for January but our South Korean supplier has already issued decreases. We think that Middle Eastern producers will approach Nigeria with decreases as well when considering the globally decreasing trend. For now, we think that South Korean offers are really competitive, although ongoing problems when opening letters of credit continue to hinder trading activities in the import market. Regarding the local producer ELEME, the producer delivers without any problems but locally held supplies are tight given the hindered import activities, which are causing a rise in prices.”
The trader received South Korean PP raffia and injection at $940/ton, PPBC injection at $980/ton, LDPE film at $1050/ton and HDPE and LLDPE film at $1040/ton on a CFR Lagos, Nigeria, cash basis. Meanwhile, the trader received Indian PP raffia and injection offers at $940/ton with the same terms.
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