Morning Briefing - 27 Jan. 2025
CommoPlast
Morning Briefing
27 January 2025
Brent: $78.50 (+ $0.21)
WTI: $74.66 (+ $0.04)
Naphtha CFR Japan: + $2
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
____________________________________________________________________
Trading sentiment in Indonesia's PP block copolymer sector showed notable improvement as more converters secured their approved import quotas for 2025. International suppliers capitalised on the optimistic outlook by raising import offers by $10–20/ton for duty-free origins, although they exercised caution by avoiding more substantial increases for the time being.
Purchasing activity is anticipated to gain further momentum in the near term, with converters expected to return for replenishment after weeks of inactivity while awaiting the allocation of new quotas.
___________________________________________________________________ _
The Southeast Asian market's key development on the final trading day of the previous week was the reduced availability of HDPE film in the domestic Malaysian market. A string of local production disruptions constrained spot supply, prompting traders to push selling prices higher despite the looming Lunar New Year holiday, which typically dampens trading activity.
Meanwhile, reports of increased Indonesian HDPE film inflows have captured market attention. Buyers have adopted a cautious stance, avoiding immediate commitments to new purchases in anticipation of potentially greater overseas supply in the coming weeks.
____________________________________________________________________
Follow us on CommoPlast Official Telegram Channel for more: https://t.me/commoplast
Your empowering market insight site