CommoPlast

Morning Briefing - 30 January 2023

Morning Briefing - 30 January 2023


CommoPlast

Morning Briefing

30 January 2023

 

Brent:  $86.66 (+ $0.74)

WTI: $79.68 (- $0.50)

 

Naphtha CFR Japan: $712 (+ $18)

 

Ethylene CFR NEA: $780 (+ $15)

Ethylene CFR SEA: $840 (Stable)

 

Propylene FOB Korea: $870 (+ $10)

Propylene CFR China: $900 (+ $10)

 

www.commoplast.com     

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While key markets in Asia were away for the Lunar New Year holiday, import PP offers to Indonesia continued to climb higher. Over the past week, non-dutiable Vietnamese homo-PP rose $50/ton while Malaysian materials surge $80/ton in this market. By the week ending 27 January 2023, offers below the $1100/ton threshold have not repeated in Indonesia.

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In the US, several petrochemical plants in Houston, Texas faced production disruptions following the latest storm on 24 January 2023. At the moment, plants have reported being affected including: 

·      Shell (crakers)

·      LyondellBasell (cracker)

·      Ineos (HDPE and PP)

·      Braskem (PP)

·      TotalEnergies (PP)

·      OxyChem (PVC)

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