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Opinion Insights From Industry Experts

Rochelle Nguyen CommoPlast Asia Sdn Bhd

[FREE] Morning Briefing - 05 August 2024

The Asian polyolefin market is currently grappling with the implications of a weakening US dollar, as industry players closely monitor currency exchange rates for potential pricing impacts. With the US dollar hitting a four-month low against a basket of major currencies, the market is rife with speculation.

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Rochelle Nguyen CommoPlast Asia Sdn Bhd

[FREE] Morning Briefing - 02 August 2024

In related plant status news, Ulsan Polypropylene Co Ltd (UPP), a joint venture between PolyMirae and SK Advanced, is planning a maintenance shutdown of its PP units this August. This would be the second major overhaul of 2024, following a previous shutdown from late November 2023 to mid-January 2024.

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Rochelle Nguyen CommoPlast Asia Sdn Bhd

[FREE] Morning Briefing - 01 August 2024

In a twist that has sent ripples through the Indonesian market, customers are making a swift return to replenish stocks after an unexpected shutdown at a key local plant. This shutdown led to significant delays in the delivery of previously sold cargo, creating a stir among traders and buyers alike.
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Rochelle Nguyen CommoPlast Asia Sdn Bhd

[FREE] Morning Briefing - 31 July 2024

Following protracted and cutthroat negotiations, a major Saudi Arabian producer has slashed August PE shipment prices to Vietnam by $60/ton for HDPE film and $40/ton for LLDPE and LDPE film from the initial prices announced last week.
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Rochelle Nguyen CommoPlast Asia Sdn Bhd

[FREE] Morning Briefing - 30 July 2024

The downtrend in the Chinese PE market persisted, with at least three major international suppliers down-adjusting import LLDPE film offers to China. However, no immediate deals were reported as negotiations remained fierce.
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Rochelle Nguyen CommoPlast Asia Sdn Bhd

[FREE] Morning Briefing - 29 July 2024

At least another Saudi Arabian producer conceded to a $70/ton reduction on spot LDPE film offers to China, yet, buyers showed no real interest in proceeding with purchases.
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Rochelle Nguyen CommoPlast Asia Sdn Bhd

[FREE] Morning Briefing - 25 July 2024

International producers may be compelled to reduce operating rates or even shut down if the downtrend continues to avoid severe margin erosion. The upstream ethylene market, with current costs at $925/ton CFR Southeast Asia, suggests that HDPE film should theoretically be priced at $1075/ton when factoring in $150/ton conversion costs.
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Rochelle Nguyen CommoPlast Asia Sdn Bhd

[FREE] Morning Briefing - 23 July 2024

Key Middle Eastern producers have announced August PE shipment offers to Southeast Asia, with the latest price lists indicating a stable trend to $20-40/ton softer compared to July. This adjustment underscores ongoing market fragility and intensifying competition.
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