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Morning Briefing - 16 Apr. 2025Trading sentiment in Malaysia’s PE market has remained subdued over the past week, mirroring broader trends across Southeast Asia. Uncertainty in the global economic outlook has prompted many buyers to adopt a wait-and-see approach, |
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CommoPlast
Morning Briefing
16 April 2025
Brent: $64.67 (â $0.21)
WTI: $61.33 (â $0.20)
Naphtha CFR Japan: â $2
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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Malaysian PE buyers withhold purchases, await steeper discounts
Trading sentiment in Malaysia’s PE market has remained subdued over the past week, mirroring broader trends across Southeast Asia. Uncertainty in the global economic outlook has prompted many buyers to adopt a wait-and-see approach, particularly in light of potential shifts in trade flows following China’s imposition of a 125% tariff on all US-origin imports.
A local converter commented, “Some re-export cargoes have begun to appear in Malaysia, but we’re not in a hurry to commit to fresh purchases. Demand for our end-products typically tapers off after Ramadan, allowing us time to assess how the market evolves.”
Market participants reported receiving import offers for LLDPE film from both Middle Eastern and US suppliers at levels below $1000/ton on a CIF basis. This has reinforced expectations that the downtrend in pricing may continue in the near term.
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ASEAN homo-PP breached below the $1000/ton mark in Indonesia
Efforts by Southeast Asian producers to keep import homo-PP offers steady have faltered, as suppliers from Malaysia, Thailand, and Vietnam moved to lower their prices. The latest price lists from these sellers have now breached the critical $1000/ton mark, based on CIF Indonesia terms.
Despite the price adjustments, buying appetite remained limited. Market participants cited concerns over currency volatility and the availability of more competitively priced domestic cargoes as key factors discouraging fresh procurement.
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