Morning Briefing - 22 Sept. 2025
CommoPlast
Morning Briefing
22 September 2025
Brent: $66.68 (â $0.76)
WTI: $62.68 (â $0.89)
Naphtha CFR Japan: â $3
Ethylene CFR NEA: â $5
Ethylene CFR SEA: Stable
Propylene FOB Korea: Stable
Propylene CFR China: Stable
*Data represent closing prices of the previous trading day
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Saudi Producer Secures October PE Deals in Vietnam Above $900/ton
Despite mounting pressure from competitively priced US-origin cargoes, a leading Saudi Arabian producer successfully concluded October transactions in Vietnam above the $900/ton threshold for both HDPE and LLDPE film. Market participants noted that the producer’s established reputation and shorter lead times were key factors supporting the deals.
“We decided to secure a small volume first while awaiting fresh offers from other suppliers before committing to larger purchases,” one Vietnamese buyer commented.
The development is expected to set the tone for other Middle Eastern suppliers to keep October shipment offers above the $900/ton mark, defying earlier expectations of a slide into the high-$800s/ton range. However, market players cautioned that the downward pressure could intensify should US-origin suppliers continue cutting prices in the near term.
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Chinese PP Market Lags Behind PE in Pre-Holiday Stocking
Trading in China’s PP market stayed subdued ahead of the upcoming National Day holiday, as ample supply and persistent price cuts kept buyers on the sidelines. CommoPlast data indicated that spot homo-PP yarn on an EXW China basis has been trending lower since late 2024, despite occasional fluctuations.
In contrast, sentiment in the domestic PE market was comparatively firmer, buoyed by a gradual recovery in demand from the agricultural film and packaging sectors. Even so, suppliers continued to face challenges in lifting prices, focusing instead on trimming inventories before the weeklong break.
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