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Morning Briefing - 12 Mar. 2025As March transactions concluded, Asian PVC market participants maintained a cautious outlook, with April pricing trends expected to remain subdued. Industry sources indicate a lack of optimism amid ongoing market uncertainties. |
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CommoPlast
Morning Briefing
12 March 2025
Brent: $69.56 (á $0.28)
WTI: $66.25 (á $0.22)
Naphtha CFR Japan: Stable
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
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Thai LLDPE to China Suspended
A major Thai LLDPE producer has suspended offers to China, citing depleted inventories following several weeks of satisfactory sales to international markets. The move underscores weaker selling prospects in China, where buyers remain cautious amid ongoing capacity expansions and broader economic uncertainties.
Regarding its pricing strategy, the producer aims to account for tightening global supply, particularly as production disruptions persist across Southeast Asia and the Middle East. However, the prospect of sustaining firm offers to China remains challenging, with the domestic market resuming falling over the past week.
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Bearish PVC Market Outlook
As March transactions concluded, Asian PVC market participants maintained a cautious outlook, with April pricing trends expected to remain subdued. Industry sources indicate a lack of optimism amid ongoing market uncertainties.
In India, purchasing activity has weakened as market players await the final decision on the anti-dumping investigation. Buyers with sufficient inventories have largely refrained from new procurements, opting for a wait-and-see approach. Additionally, concerns over BIS certification have resurfaced.
Meanwhile, supply from China remains ample, exerting downward pressure on prices. “We anticipated April shipment offers to reflect reductions, although the magnitude of potential price cuts may be moderate,” a market source noted.
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