Morning Briefing - 30 July 2025

CommoPlast

Morning Briefing

30 July 2025

Brent: $72.51 (á $2.47) 

WTI: $69.21 (á $2.50)

Naphtha CFR Japan: á $11

Ethylene CFR NEA:  Stable

Ethylene CFR SEA: Stable

Propylene FOB Korea: Stable

Propylene CFR China: Stable

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Malaysian Major Trimmed Local PP, PE Offers for August

As widely anticipated, a key domestic producer in Malaysia has unveiled its August price list for PP and PE with reductions of MYR 80–100/ton from July levels. The adjustments reflect prevailing market conditions, particularly sluggish demand and improved supply availability.

Despite the lower offers, buyers remained cautious in their procurement strategies. Many anticipate a further improvement in local supply over the coming month, reducing the urgency for immediate replenishment. Several PE packaging converters reported having pending cargoes scheduled for August arrival, further reinforcing a wait-and-see stance across the market.

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Vietnamese Buyers Cautious Procuring Import Homo-PP Cargoes as Prices Dipped

Vietnam’s import homo-PP market continued to soften, though trading activities picked up slightly on the second trading day of the week, suggesting that some buyers may have come to terms with the current price range. Deals for Chinese, Malaysian, and South Korean homo-PP yarn were concluded below the $900/ton threshold, indicating growing pricing acceptance.

Nevertheless, a cautious sentiment lingered. Buyers remained wary amid expectations of rising supply, driven by the anticipated startup of Long Son Petrochemical and steady operating rates at Malaysia’s PrefChem. Most converters are now targeting further discounts for their next purchases, with buying ideas drifting toward the $850/ton level on a CIF basis.

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