Morning Briefing - 03 Dec. 2025
CommoPlast
Morning Briefing
03 December 2025
Brent: $62.45 (- $0.72)
WTI: $58.64 (- $0.68)
Naphtha CFR Japan: - $1
Ethylene CFR NEA: Stable
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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Chinese LLDPE film Market Saw Improved Transactions as Prices Drop
China’s import LLDPE film market witnesses a moderate uptick in procurement as major international suppliers cut prices for non-US cargoes to below $800/ton, drawing buying interest. Although some buyers have stepped back in for replenishment, uncertainty lingers over the market outlook heading into the first quarter of 2026.
Expectations are growing among Chinese players that the recent downtrend in the LLDPE film market may be approaching a cyclical bottom, encouraging opportunistic purchasing. While concerns remain over the near-term outlook, current buying decisions are being shaped by firmer upstream ethylene costs and a less aggressive pricing stance from North American suppliers.
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Indonesian PP Market Extends Rebound to 4-Month Highs, but Caution Persists
The Indonesian homo-PP market entered December on firmer ground, extending the late-November rebound into a second consecutive week as tightening supply expectations lent support. Despite the bullish undertone, buyers remained cautious, with only selective restocking taking place.
Trading activity was largely concentrated in the domestic distribution market, where traders reported steady inquiries for localised Thailand-origin parcels scheduled for January 2026 delivery. However, with sellers signalling plans to lift prices further in the coming days, some buyers have begun exploring import alternatives. The recent appreciation of the Rupiah against the US dollar has strengthened this inclination, providing additional incentive for import sourcing even as overall sentiment remains cautious.
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