Dec 03, 2023 11:25 a.m.

Morning Briefing - 15 Nov. 2023

CommoPlast CommoPlast Asia Sdn Bhd
Trading sentiment in China remained dwindling on the second day of the week and the unchanged local PP and PE inventory levels highlighted the lack of purchasing activities.
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Morning Briefing

15 November 2023

 

Brent: $82.47 (- $0.05)

WTI: $78.26 (Stable)

 

Naphtha CFR Japan: $651

 

Ethylene CFR NEA: $860

Ethylene CFR SEA: $940

 

Propylene FOB Korea: $815

Propylene CFR China: $855

 

*Data represent closing prices of the previous trading day 

 

www.commoplast.com     

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Trading sentiment in China remained dwindling on the second day of the week and the unchanged local PP and PE inventory levels highlighted the lack of purchasing activities. Spot offers inched another CNY50/ton lower, yet buyers showed limited interest in making large purchases amid the lethargic futures market and soft finished-goods demand.  

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In Indonesia, customers seemed more interested in replenishing PP cargoes from the import market now that the exchange rates have somewhat stabilised. Several deals for non-dutiable Vietnamese homo-PP yarn have been reported while other buyers continue to haggle for more discounts with buying ideas emerging at close to the $900/ton mark.

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