|
|
Morning Briefing - 21 Nov. 2023Although the general expectations remained on the trajectory that new price lists would be higher, the lingering weakness in China might anchor the regional market, capping the upside. |
|
CommoPlast
Morning Briefing
21 November 2023
Brent: $82.32 (+ $1.71)
WTI: $77.60 (+ $1.71)
Naphtha CFR Japan: +$19
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: Stable
Propylene CFR China: Stable
*Data represent closing prices of the previous trading day
……………………………………………………………….
A major Taiwanese producer has once again delayed the announcement of December PVC shipment offers to Asia. Although the general expectations remained on the trajectory that new price lists would be higher, the lingering weakness in China might anchor the regional market, capping the upside. Buyers are now anticipating a $20-30/ton increase instead of $30-50/ton initially.
……………………………………………………………….
International suppliers started opening December PE shipment offers to Vietnam with a key Saudi Arabia producer spearheading a stabilising trend by keeping offers unchanged from November. Bid collections are ongoing at $1020/ton for HDPE film, $960/ton for LLDPE film, and $970-980/ton for LDPE film, all based on CIF terms. Buyers are reluctant to join the bid collection while placing counter-bids at lower levels.
______________________________________________________________
Follow us on CommoPlast Official Telegram Channel for more: https://t.me/commoplast
About CommoPlast Asia Sdn Bhd
Your empowering market insight site.
