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Morning Briefing - 18 Apr. 2025With May shipment offers from overseas suppliers expected soon, the persistent softness in India’s local market is being closely watched as a potential indicator of international pricing trends. |
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CommoPlast
Morning Briefing
18 April 2025
Brent: $67.96 (á $2.11)
WTI: $64.68 (á $2.21)
Naphtha CFR Japan: á $15
Ethylene CFR NEA: Stable
Ethylene CFR SEA: â $20
Propylene FOB Korea: Stable
Propylene CFR China: Stable
*Data represent closing prices of the previous trading day
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Indian PVC producer introduced the second April price cut
A leading Indian PVC producer has implemented a second price reduction for April, reflecting subdued demand and ample domestic supply. The move comes amid continued volatility in global energy markets and growing uncertainty around international trade policies—both of which have added further downward pressure on prices.
With May shipment offers from overseas suppliers expected soon, the persistent softness in India’s local market is being closely watched as a potential indicator of international pricing trends. However, market participants remain cautious about the likelihood of significant reductions in import offers, citing rising production costs as a limiting factor for global producers.
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Crude rebound cushioned the Chinese PET bottle market
The Chinese domestic PET bottle market remained soft, weighed down by ongoing weakness in the futures market and the restart of several production units. Data from CommoPlast Plant Status showed that three PET plants resumed operations between March and April, collectively restoring 1.65 million tons/year of capacity—an increase likely to reshape short-term supply fundamentals.
However, the price drop was partially cushioned by a rebound in energy markets. Crude oil prices climbed to a two-week high as of Wednesday, offering some support to the downstream segment. While PET prices initially dropped by CNY220/ton early in the week, the correction eased to a milder CNY150/ton loss as suppliers adjusted offers to reflect firmer crude values.
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