Morning Briefing - 18 Sept. 2023
CommoPlast
Morning Briefing
18 September 2023
Brent: $93.93 (+ $0.23)
WTI: $90.77 (+ $0.61)
Naphtha CFR Japan: $713 (+ $2)
Ethylene CFR NEA: $840 (+ $15)
Ethylene CFR SEA: $865 (Stable)
Propylene FOB Korea: $810 (Stable)
Propylene CFR China: $855 (Stable)
*Data represent closing prices of the previous trading day
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Data from CommoPlast showed mixed pricing development in the domestic PE market in China with limited supply continuing to elevate the LDPE film sector while the LLDPE film market is regarded as the weakest performing grade due to comfortable availability.
Nevertheless, purchasing activities started to slow down as buyers have largely stocked up comfortably the needed quantities while shying away from the constantly rising offers.
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In India, market players estimated that about 35 – 40 overseas PE producers have not obtained the BIS certificate even though the implementation of the Indian Standard is set to be on 3 October 2023. Buyers have submitted a request to the authorities for a six-month extension to avoid supply disruptions for grades that are not currently produced locally.
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Saudi Arabia’s SHARQ or Eastern Petrochemical Company is mulling over a 40-day maintenance shutdown at part of its petrochemical complex in Al Jubail, Saudi Arabia.
Affected units include an LLDPE line and an HDPE unit.
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