Morning Briefing - 08 Jan. 2024
CommoPlast
Morning Briefing
08 January 2025
Brent: $77.05 (+ $0.75)
WTI: $74.25 (+ $0.69)
Naphtha CFR Japan: - $4
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: Stable
Propylene CFR China: Stable
*Data represent closing prices of the previous trading day
____________________________________________________________________
Amid the steadily declining futures contracts on the Dalian Commodity Exchange, Chinese market participants saw buyers start returning to make pre-Lunar New Year replenishments. Although most transactions were restricted to PP, in small quantities, sources expressed cautious optimism over the near-term demand outlook. As of January 8, spot homo-PP prices reached their lowest levels since late September 2024, which contributed to sparking some buying interest.
Conversely, sentiment around PE remained subdued, as market participants indicated that current price levels still exceeded buyers' acceptable thresholds.
___________________________________________________________________ _
As part of its ongoing anti-dumping investigation into PVC imports from seven countries, the Indian government is scheduled to conduct a public hearing on January 15, 2025. Industry participants anticipate that a final decision on the anti-dumping duties (ADD) will be announced shortly after the hearing.
The Indian PVC market has been grappling with significant challenges in recent months, driven by uncertainties surrounding potential regulatory changes. However, with the investigation nearing its conclusion, market players are hopeful for a recovery in trading sentiment.
____________________________________________________________________
Follow us on CommoPlast Official Telegram Channel for more: https://t.me/commoplast
Your empowering market insight site