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Saudi producer issues November PP, PE prices to Nigeria

by ChemOrbis Editorial Team -
  • 21/10/2014 (10:36)
A plastic end product manufacturer operating in Lagos, Nigeria, reported that they received November PP and PE prices from a major Saudi producer with decreases from October.

According to the buyer, the producers’ prices for PP raffia and injection are $40/ton lower from October. “The Saudi producer cut their PP prices by $40/ton while the local producer ELEME also issued another NGN10,000/ton ($61) decrease on top of the NGN10,000/ton decrease they issued last week. These decreases are encouraging buyers to stick to the sidelines as they prefer to see all offers for November before purchasing. Meanwhile, overall supply levels are comfortable.”

Looking at prices, the buyer received PP raffia and injection at $1560/ton, PP block copolymer injection at $1680/ton, HDPE film at $1660/ton and LDPE film at $1680-1700/ton on a CFR Lagos, Nigeria, 90 days deferred payment basis.

These new prices indicate $40/ton decreases for PP raffia and injection, $60/ton drops for HDPE film, $30-50/ton cuts for LDPE film while indicating a stable to $10/ton softer trend for PP block copolymer injection when compared with the most recent offers reported for September for this producer.
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