Nigeria’s PP and PE Markets Continue Sharp Decline in July

Nigeria’s polypropylene (PP) and polyethylene (PE) markets remained under heavy pressure in July as both local and import prices recorded substantial reductions. The local producer, ELEME, announced two separate price cuts during the month, extending the correction that began in mid-May amid weakening global markets and falling import prices.

Market participants said the latest reductions reflect softer international polymer prices, improved supply conditions, and the fading impact of the Middle East-related price surge seen earlier this year. Since the correction started, PP prices have dropped by roughly 23-29%, while PE prices have fallen by 31-35%, reversing a significant portion of the record highs reached in April.

ELEME July Prices (EXW Port Harcourt, Cash)

HDPE Film

Current Price: NGN 1,793,000/ton
Previous Price: NGN 2,148,000/ton
Change: ▼ NGN 355,000/ton

LLDPE Film

Current Price: NGN 1,783,700/ton
Previous Price: NGN 2,210,000/ton
Change: ▼ NGN 426,300/ton

HDPE Blow Molding & Injection

Current Price: NGN 1,678,000-1,806,700/ton
Previous Price: NGN 2,098,000-2,161,800/ton
Change: ▼ NGN 355,100-420,000/ton

Homo PP Raffia

Current Price: NGN 1,888,700/ton
Previous Price: NGN 2,143,800/ton
Change: ▼ NGN 255,100/ton

Homo PP Injection

Current Price: NGN 1,875,000-1,902,500/ton
Previous Price: NGN 2,130,000-2,198,800/ton
Change: ▼ NGN 255,000-296,300/ton

PP Block Copolymer Injection

Current Price: NGN 2,000,000-2,068,700/ton
Previous Price: NGN 2,310,000-2,378,800/ton
Change: ▼ NGN 310,000-310,100/ton

Import Market Also Faces Heavy Corrections

Import offers into Nigeria also moved sharply lower in July. A major Saudi supplier reduced PP and PE offers significantly compared with its initial June levels, reflecting the bearish trend across global polymer markets.

PE grades recorded the steepest declines, while PP and copolymer grades also saw substantial reductions. Market sources noted that lower prices have started attracting some buying interest, although most buyers remain cautious.

July Import Offers (CFR Lagos, Cash, Subject to 10% Duty)

HDPE Film

Current Price: USD 1,070-1,100/ton
Previous Price: USD 1,550-1,560/ton
Change: ▼ USD 460-480/ton

LLDPE Film

Current Price: USD 1,100-1,130/ton
Previous Price: USD 1,500-1,550/ton
Change: ▼ USD 400-420/ton

LDPE Film

Current Price: USD 1,460-1,500/ton
Previous Price: USD 1,950-1,990/ton
Change: ▼ USD 490/ton

Homo PP Raffia & Injection

Current Price: USD 1,250-1,280/ton
Previous Price: USD 1,450-1,500/ton
Change: ▼ USD 200-220/ton

Homo PP Film & Fibre

Current Price: USD 1,280-1,310/ton
Previous Price: USD 1,500-1,550/ton
Change: ▼ USD 220-240/ton

PP Block Copolymer Injection

Current Price: USD 1,180-1,200/ton
Previous Price: USD 1,630-1,660/ton
Change: ▼ USD 450-460/ton

PPRC Injection

Current Price: USD 1,250-1,300/ton
Previous Price: USD 1,700-1,730/ton
Change: ▼ USD 430-450/ton

The sharp decline in both local and import prices is beginning to encourage some stock replenishment, although overall market sentiment remains cautious as buyers continue to watch for further price movements.

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