Morning Briefing - 04 Nov. 2025
CommoPlast
Morning Briefing
04 November 2025
Brent: $64.89 (+ $0.12)
WTI: $61.05 (+ $0.07)
Naphtha CFR Japan: + $2
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: Stable
Propylene CFR China: + $15
*Data represent closing prices of the previous trading day
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Indonesian PP Market Firms as Major Producer Raises Prices Amid Regional Tightness
The Indonesian PP market opened the week on a firmer footing as a major domestic producer lifted spot offers twice, citing a tighter regional supply outlook despite persistently weak demand.
Latest offers for homo-PP yarn and injection grades rose by IDR 390,000/ton from the previous week, as the producer sought to reflect reduced supply from key Malaysian and Vietnamese sources.
Market participants, however, expressed caution over the sustainability of the recent uptrend. Many converters were said to have secured sufficient inventories earlier, while demand from downstream sectors remains sluggish. In addition, more competitively priced cargoes from other local producers have continued to weigh on buying sentiment, limiting acceptance of the higher offers.
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Chinese PVC Offers Edge Lower in Malaysia as Buying Sentiment Stays Weak
The Malaysian PVC market saw fresh offers for Chinese ethylene-based cargoes inch lower this week, in line with expectations. Prices were revised down by $10/ton from the previous week, bringing the latest offers a notch closer to the $600/ton threshold on a CIF basis.
Market sources attributed the downward adjustment to sluggish regional demand, particularly from India, where anticipation of anti-dumping duty implementation has dampened buying interest.
Malaysian buyers remained cautious toward fresh purchases, wary that the current softening trend could continue in the near term. Some buying indications were heard slightly below the $600/ton mark, although no firm deals were reported.
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