Morning Briefing - 06 June 2024
CommoPlast
Morning Briefing
06 June 2024
Brent: $78.41 (+$0.89)
WTI: $74.07 (+$0.82)
Naphtha CFR Japan: Stable
Ethylene CFR NEA: -$5
Ethylene CFR SEA: Stable
Propylene FOB Korea: Stable
Propylene CFR China: Stable
*Data represent closing prices of the previous trading day
……………………………………………………………….
In Southeast Asia, the Indonesian LDPE film market fell into the spotlight as a couple of regional suppliers lifted import offers to above the $1400/ton threshold citing limited supply conditions. Meanwhile, in the local market, traders cannot offer spot cargo, which requires buyers to pre-book their orders.
The development attracted export/re-export cargoes from China above $1300/ton CIF Indonesia terms.
……………………………………………………………….
In Vietnam, a Saudi Arabian producer’s decision to set final PE prices above the initial offers for June shipment in late May did not yield the desired sales results. The maker reportedly down-adjusted their prices this week, claiming in support of customers, who have bought at higher costs previously.
Responses have improved. However, players also said the price adjustments indicated that the market had formed ceiling price levels, from which HDPE and LLDPE film priced above the $1050/ton CIF Vietnam are deemed unattractive.
______________________________________________________________
Follow us on CommoPlast Official Telegram Channel for more: https://t.me/commoplast
Your empowering market insight site.