|
|
Morning Briefing - 04 Mar. 2025The Indonesian PET bottle market exhibited a stable-to-softer trend at the start of the week, despite steady demand from the food and beverage sector and the continued depreciation of the Rupiah against the US dollar. While locally produced materials remained unchanged |
|
CommoPlast
Morning Briefing
04 March 2025
Brent: $71.62 (â $1.19)
WTI: $69.05 (â $0.71)
Naphtha CFR Japan: â $13
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
____________________________________________________________________
Malaysian PP and PE Markets Jumped Higher
A Malaysian producer has increased domestic offers for most PP and PE grades by RM 80/ton ($18/ton), citing currency volatility and constrained local supply. The Malaysian market has faced persistent supply limitations in recent months due to multiple production disruptions.
Notably, the producer maintained the standard RM 80/ton increase for HDPE film, despite ongoing production issues and an impending shutdown at one of its lines. Market participants suggest this measured adjustment aims to accelerate sales ahead of the Eid-al-Fitr holidays, a period typically marked by weakened end-product demand.
___________________________________________________________________ _
Indonesian PET Market Tracked Stable to Softer Trend
The Indonesian PET bottle market exhibited a stable-to-softer trend at the start of the week, despite steady demand from the food and beverage sector and the continued depreciation of the Rupiah against the US dollar. While locally produced materials remained unchanged, localised Chinese cargo saw a decline of IDR 300,000/ton from the previous week for volume purchases.
Market participants attribute this price adjustment to a strategic response by local traders aiming to counter the increasing competitiveness of Chinese imports, which now benefit from a 0% import duty in Indonesia. With localised materials priced attractively, smaller-scale buyers prefer sourcing from domestic traders in local currency to mitigate shipping and exchange rate risks.
____________________________________________________________________
Follow us on CommoPlast Official Telegram Channel for more: https://t.me/commoplast
About CommoPlast Asia Sdn Bhd
Your empowering market insight site
