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Opinion Insights From Industry Experts

Rochelle Nguyen CommoPlast Asia Sdn Bhd

[FREE] Morning Briefing - 14 August 2024

The Southeast Asian market witnessed a sparse number of new import homo-PP offers on the second trading day of the week. The absence of fresh pricing, combined with a steep rise in crude oil costs earlier this week, has intensified concerns among regional buyers about whether the market has hit rock bottom.

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Rochelle Nguyen CommoPlast Asia Sdn Bhd

[FREE] Morning Briefing - 13 August 2024

On a positive note, sources reported some reduction in the ocean freight rates from China to several key markets in Asia, fueling hope for stronger export sales moving forward. In the meantime, export PP offers from China fell $5 – 15/ton from the previous week, reflecting the bearish development on the local front.

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Rochelle Nguyen CommoPlast Asia Sdn Bhd

[FREE] Morning Briefing - 12 August 2024

Mounting concerns over a ballooning supply outlook for the latter half of August compelled local traders in Northern Vietnam to slash homo-PP offers drastically at the end of last week. Deals for locally produced cargoes were struck at prices dipping below the VND 27,000,000/ton threshold (including VAT), signaling a notable market shift.
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Rochelle Nguyen CommoPlast Asia Sdn Bhd

[FREE] Morning Briefing - 08 August 2024

Despite the stagnation, buyers are keeping a close watch on the recent rebound in the Chinese LDPE film market. This recovery could influence the Vietnamese market dynamics, potentially prompting international suppliers to reject current bids for LDPE film to Vietnam, according to market sources.
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Rochelle Nguyen CommoPlast Asia Sdn Bhd

[FREE] Morning Briefing - 07 August 2024

In China, key domestic producers opted to maintain spot homo-PP largely stable following a tumultuous start this week. However, traders were not as confident in the near-term outlook and actively offered negotiation space to secure more orders.
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Rochelle Nguyen CommoPlast Asia Sdn Bhd

[FREE] Morning Briefing - 06 August 2024

In China, market sources debated the possibility of the LDPE film market hitting the cyclical bottom pointing to a curtail in import arrivals over the past week. While the sluggish demand conditions during the offpeak season might limit the extent of price rebound, sources believed that sellers might start to hold firm on their offers this week.
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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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