Morning Briefing - 16 Dec. 2025
CommoPlast
Morning Briefing
16 December 2025
Brent: $60.56 (- $0.56)
WTI: $56.82 (- $0.62)
Naphtha CFR Japan: - $3
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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Saudi major rolls out January PE offers to Southeast Asia with mixed adjustments
A major Saudi Arabian producer has announced its January PE shipment offers to the Southeast Asian market on a mixed footing, bucking broader expectations of a uniform downward correction. While offers to Vietnam were trimmed by $10–20/ton month on month, Indonesian buyers reported a $10/ton increase.
Market participants largely remained cautious in initiating fresh price negotiations, citing mounting concerns over the near-term outlook. Buyer confidence has yet to show meaningful improvement, even as the flow of competing US-origin cargoes has eased. At the same time, persistent weakness in the Chinese market continued to weigh on regional sentiment, reinforcing fears that the current downcycle has yet to establish a clear floor.
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Vietnamese homo-PP Market Kickstarted the Week on Firm Footing
Vietnam’s homo-PP market kicked off the week with firmer pricing, as several local trading houses followed earlier moves by key distributors of BSR to raise spot prices. Fresh offers for domestically produced homo-PP yarn and injection grades were rolled out with increases of VND 200,000–300,000/ton.
Despite the upward adjustments, buying interest remained subdued, with consumers citing comfortable inventory levels. Market discussions continued to reflect limited confidence in the near-term outlook, particularly heading into the first quarter, as most restocking ahead of Lunar New Year-related demand was seen as largely complete.
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