Morning Briefing - 22 Feb. 2024
CommoPlast
Morning Briefing
22 February 2024
Brent: $83.03 (+ $0.69)
WTI: $77.91 （+ $0.87)
Naphtha CFR Japan: $671 (- $5)
Ethylene CFR NEA: $955 (Stable)
Ethylene CFR SEA: $970 (Stable)
Propylene FOB Korea: $815 (Stable)
Propylene CFR China: $845 (Stable)
*Data represent closing prices of the previous trading day
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The Vietnamese homo-PP market started the week on a strong note with local and international suppliers attempting to leverage the strong sentiment in China. However, the trend moderated by mid of the week with transactions for Chinese, South Korean, and Saudi Arabian homo-PP yarn reported at unchanged levels compared to the pre-holiday period.
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The upstream ethylene market continued to gallop higher on the back of limited supply conditions. Nevertheless, downstream demand remained sluggish as most ethylene-derivative markets were facing negative margins.
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