Nigeria's ELEME Ends Price Declines with Fresh PP and PE Hikes
With the latest revisions, cumulative domestic price increases have reached NGN99,600–140,800/ton ($73–103/ton) for PP and NGN100,000–180,000/ton ($73–132/ton) for PE compared to mid-July levels.
According to market participants, the first price announcement accounted for most of the increases, while the second announcement largely maintained previous price levels across most grades. HDPE blow molding was the only grade to receive an additional increase in the latest revision.
A local distributor noted that trading activity remains slow, with many buyers waiting for fresh CFR offers from regional suppliers before making new purchasing decisions. Market participants expect regional suppliers to seek higher prices, which could further support Nigeria's domestic polymer market.
Latest Domestic Prices (EXW Port Harcourt, Cash Basis)
HDPE Film
Current Price: NGN 1,893,000/ton ($1,395/ton)
Latest Change: ▲ NGN 100,000/ton
LLDPE Film
Current Price: NGN 1,883,700/ton ($1,388/ton)
Latest Change: ▲ NGN 100,000/ton
HDPE Blow Molding & Injection
Current Price: NGN 1,858,000–1,906,700/ton ($1,369/ton)
Latest Change: ▲ NGN 180,000/ton (Blow Molding) | ▲ NGN 100,000/ton (Injection)
Homo PP Raffia
Current Price: NGN 1,988,700/ton ($1,466/ton)
Latest Change: ▲ NGN 100,000/ton
Homo PP Injection
Current Price: NGN 1,975,000–2,043,300/ton ($1,455/ton)
Latest Change: ▲ NGN 100,000/ton | ▲ NGN 140,800/ton
PP Block Copolymer Injection
Current Price: NGN 2,100,000–2,168,300/ton ($1,548/ton)
Latest Change: ▲ NGN 100,000/ton | ▲ NGN 99,600/ton
The latest pricing indicates that ELEME is adopting a firmer stance amid higher replacement costs, although buying activity remains cautious as market participants await fresh import offers to gauge the next price direction.
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