CommoPlast

Morning Briefing - 30 Oct. 2023

In Vietnam, several Chinese suppliers agreed to close deals for import homo-PP yarn below the $950/ton threshold


CommoPlast

Morning Briefing

30 October 2023

 

Brent: $90.48 (+ $2.55)

WTI: $85.54 (+ $2.33)

 

Naphtha CFR Japan: $658 (- $6)

 

Ethylene CFR NEA: $880 (Stable)

Ethylene CFR SEA: $970 (+ $10)

 

Propylene FOB Korea: $805 (- $10)

Propylene CFR China: $840 (- $10)

 

*Data represent closing prices of the previous trading day 

 

www.commoplast.com     

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The Asian PVC market seemed to have reached the cyclical bottom as regional and international suppliers attempted to introduce a firmer stance on spot cargoes citing the uptick in buying interest among Indian customers. 

However, Asiabuyers believed that the dwindling global economic conditions might cap the market's upside. In other words, buyers do not anticipate any strong rebound moving forward.

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In Vietnam, several Chinese suppliers agreed to close deals for import homo-PP yarn below the $950/ton threshold – a result of heightened sales pressure and disappointing seasonal demand.

Vietnamese customers continued to proceed cautiously, making only small replenishments while waiting for more discounts to emerge.

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Country
China 

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