Morning Briefing - 22 July 2025
CommoPlast
Morning Briefing
22 July 2025
Brent: $69.21 (â $0.07)
WTI: $67.20 (â $0.14)
Naphtha CFR Japan: â $4
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: Stable
Propylene CFR China: Stable
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Chinese PVC Export Extended Gains
The Chinese PVC market opened the week on a firm note, with export offers for carbide-based grades climbing by $18–22/ton, while ethylene-based grades held steady to slightly firmer, up to $10/ton higher. This marks the fifth consecutive week of price gains, underpinned by a combination of supply-side concerns and shifting market dynamics.
Apparently, carbide-based PVC has been leading the upswing on the concerns over coal supply outlook and growing uncertainty over the future of ageing production assets, following a nationwide inspection campaign targeting plants operating for more than 20 years. As of this report, the traditional price gap between ethylene- and carbide-based PVC has effectively disappeared — a rare occurrence last seen in October 2024.
The firmer Chinese offers are now shaping regional sentiment, lifting the market floor across Asia and challenging earlier expectations of price reductions for August shipments due to weak demand. Instead, the Asian PVC market appears to be entering a more stabilised phase as supply-side factors outweigh prevailing demand softness.
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