Nigeria’s ELEME Ends Long Streak of Hikes with First Price Reduction

In Nigeria, local producer ELEME has announced its first price reductions during the mid-May pricing cycle, ending a prolonged series of increases that started after Middle East tensions escalated in early March.

Since March, the producer had implemented seven consecutive price hikes followed by one rollover before finally revising prices downward this week.

Despite the latest corrections, market prices still remain significantly above early March levels. PPH and PPBC injection grades continue to show sharp gains compared to pre-war levels, while PE grades also remain elevated overall.

Market participants said weak downstream demand and growing buyer resistance played a major role in the latest revisions. Buyers were reportedly struggling to absorb repeated increases amid slow market activity and cautious purchasing behavior.

The latest offers were announced on an EXW Port Harcourt, cash basis.

Latest ELEME Price Revisions
HDPE Film: NGN 2,423,000/ton (Down NGN 175,000)
LLDPE Film: NGN 2,460,000/ton (Down NGN 190,000)
HDPE B/M & Injection: NGN 2,373,000–2,436,700/ton (Down NGN 174,900–225,000)
Homo PP Raffia: NGN 2,393,700/ton (Down NGN 249,900)
Homo PP Injection: NGN 2,380,000–2,448,600/ton (Down NGN 249,500–250,000)
PPBC Injection: NGN 2,510,000–2,578,600/ton (Down NGN 99,500–100,000)

The latest revisions indicate that weakening demand conditions are beginning to outweigh earlier supply-driven price momentum in Nigeria’s polyolefin market.

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