Morning Briefing - 26 August 2025
CommoPlast
Morning Briefing
26 August 2025
Brent: $68.80 (á $1.07)
WTI: $64.80 (á $1.14)
Naphtha CFR Japan: á $6
Ethylene CFR NEA: á $10
Ethylene CFR SEA: á $10
Propylene FOB Korea: á $3
Propylene CFR China: á $3
*Data represent closing prices of the previous trading day
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More Middle Eastern Producers Released September PE Offers to Vietnam
Vietnam’s PE market opened the week on a brisk note, with more Middle Eastern suppliers announcing September shipment offers. Most quotations emerged at stable to softer levels from the previous month, reflecting ongoing pressure from ample regional supply and currency volatility.
While negotiations are still unfolding, several parcels offered late last week have already been booked, signaling pockets of demand despite the challenging backdrop. Market participants noted that sentiment could stay upbeat through the week as September business discussions gather pace.
At the same time, industry chatter suggests the recent price downturn may be approaching a cyclical bottom. Still, uncertainties linger, particularly around the operational stability of Long Son Petrochemical and the influx of US-origin cargoes—both factors seen as pivotal in shaping Vietnam’s near-term PE outlook.
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Indonesian PP Market Showed Early Signs of Stabilisation
Indonesia’s PP market displayed early signs of stabilisation this week after a prolonged downtrend, as a major domestic producer rolled over spot offers from the previous week, except for PP block copolymer. Market participants said downward pressure on homo-PP has eased somewhat, supported by production switch at one of the local plant toward high-impact grades.
Nevertheless, overall confidence remains fragile. Many buyers, still holding ample inventories, are staying on the sidelines amid concerns that incoming supplies from Malaysia and Vietnam could reignite selling pressure in the weeks ahead.
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