Print

CommoPlast

Morning Briefing

21 January 2025

Brent: $80.15 (- $0.64)

WTI: Holiday

Naphtha CFR Japan: - $5

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 

www.commoplast.com     

____________________________________________________________________

Trading sentiment in the Vietnamese homo-PP market exhibited a slight improvement at the start of the week, as buyers sought competitively priced parcels ahead of the weeklong Lunar New Year holiday. A good number of transactions involving Chinese and South Korean cargoes were recorded within the range of $940-970/ton on a CIF Vietnam basis.

At the time of this report, many buyers are well-covered until early March 2025. Nevertheless, buyers were adamant that prices could inch lower in the post-holiday period. Several buyers have expressed interest in making larger purchases if Chinese suppliers adjust their pricing to the $900-920/ton range after the holiday.

____________________________________________________________________

In Indonesia, a major local producer has announced new weekly offers, maintaining price levels largely unchanged from the previous update despite the significant depreciation of the Rupiah against the US dollar. Persistently weak demand conditions, coupled with the availability of more competitively priced cargoes in the distribution market, have limited the producer's ability to pass on higher costs to buyers.

Meanwhile, a prominent local trading house sought to increase localised offers for Malaysian HDPE and LLDPE film by IDR 170,000/ton ($10/ton). However, the market response has been tepid, with no immediate transactions reported at the adjusted price levels.

____________________________________________________________________

Follow us on CommoPlast Official Telegram Channel for more: https://t.me/commoplast

Country
China 

About CommoPlast Asia Sdn Bhd
Your empowering market insight site