Feb 06, 2023 7:40 a.m.

Morning Briefing - 23 November 2022

CommoPlast CommoPlast Asian Sdn Bhd
Morning Briefing - 23 November 2022
Title

Available in

CommoPlast

Morning Briefing

23 November 2022

 

Brent:  $88.36 (+ $0.91

WTI: $80.95 (+ $0.91)

 

Naphtha CFR Japan: $710 (+ $9)

 

Ethylene CFR NEA: $880 (Stable)

Ethylene CFR SEA: $880 (Stable)

 

Propylene FOB Korea: $835 (Stable)

Propylene CFR China: $870 (Stable)

 

www.commoplast.com     

……………………………………………………………….

The Southeast Asian PP market is inching higher this week as most suppliers have depleted a good quantity of cargoes to China past two weeks, while the South Asian region started to warm up, too. Some producers even said that they are holding back the allocation in expectation of higher prices in the coming days.

Meanwhile, propane contract prices for December are expected to rise. As a result, all PP plants using propane gas will have to increase selling prices to cover the costs.

……………………………………………………………….

While Chinese buyers are shy from making additional purchases for PP, the buying appetite for LLDPE film remains relatively strong. In fact, deals for Middle Eastern cargoes have been concluded at $930/ton CFR China on the first trading day of the week, and the strong buying interest for this grade is also reflected on the Shenhua auction platform over the past several days. 

______________________________________________________________

Follow us on CommoPlast Official Telegram Channel for more: https://t.me/commoplast

About CommoPlast Asian Sdn Bhd

Your Empowering Market Insight Site