Morning Briefing - 15 September 2022

CommoPlast

Morning Briefing

15 September 2022

Brent:  $94.1 (+ $0.93）
WTI: $88.48 (+ $1.17)

Naphtha CFR Japan: $676 (+ $7)

Ethylene CFR NEA: $1000 (Stable)
Ethylene CFR SEA: $1000 (Stable)

Propylene FOB Korea: $875 (Stable)
Propylene CFR China: $895 (Stable)

*Data represent closing prices of the previous trading day

www.commoplast.com
……………………………………………………………….

At least three Saudi Arabia producers have lifted import PE offers to China this week on the back of stronger upstream ethylene costs and reduced sales pressure. Buying interest, on the other hand, declined visibly, signalling the building resistance among customers here. 

Meanwhile, Middle Eastern LDPE film started to face higher pressure from the presence of ample and competitive USA materials. In fact, a good number of transactions for this origin has been reached in the range of $1040-1060/ton CFR China terms.

……………………………………………………………….

In India, a key domestic producer lifts spot PP and PE offers once again effective 15 September to reflect the tightening supply conditions following the shutdown at Reliance, GAIL, and IOCL, while OPaL is operating at reduced rates. 

The latest price list from the maker sees increases of INR 2000/ton on LLDPE and LDPE cargoes, INR 1000/ton on HDPE and INR 3000/ton on PP. 

Many overseas sellers are eyeing opportunities to attract buying interest among Indian customers. ______________________________________________________________

Follow us on CommoPlast Official Telegram Channel for more: https://t.me/commoplast