Morning Briefing - 06 Nov. 2023
CommoPlast
Morning Briefing
06 November 2023
Brent: $84.89 (- $1.96)
WTI: $80.51 (- $1.95)
Naphtha CFR Japan: + $9
Ethylene CFR NEA: - $5
Ethylene CFR SEA: - $5
Propylene FOB Korea: Stable
Propylene CFR China: Stable
*Data represent closing prices of the previous trading day
……………………………………………………………….
On the final trading day of the previous week, a major South Korean producer agreed to large discounts on spot homo-PP yarn to Vietnam, with deals concluding at $910/ton CIF terms. There have been reports that even at the latest prices, the producers only depleted about half of the allocations as buyers prefer to wait for the market to breach below the $900/ton threshold.
……………………………………………………………….
In China, despite a stabilising domestic ground, international suppliers continued to cut import PE offers to this market, this time, the focus was on HDPE and LDPE film. A new price list from a Saudi producer registered reductions of $45/ton on HDPE film and $30/ton on LDPE film.
In the meantime, a Thailand producer attempted to stimulate LLDPE film sales by bundling the grade with other cargoes, such as LDPE film and metallocene PE.
______________________________________________________________
Follow us on CommoPlast Official Telegram Channel for more: https://t.me/commoplast
Your empowering market insight site.