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Morning Briefing - 25 August 2025The Chinese PVC market closed the week to 22 August 2025 on a softer note, with export offers falling by $7-12/ton for carbide-based and $18-22/ton for ethylene-based cargoes. |
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CommoPlast
Morning Briefing
25 August 2025
Brent: $67.73 (á $0.06)
WTI: $63.66 (á $0.14)
Naphtha CFR Japan: á $3
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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Supply Tightness Persisted in the Malaysian HDPE film Market
The Malaysian HDPE film market continued to face supply constraints, with buyers reporting limited spot availability and delivery delays of up to a month for previously purchased cargoes.
Sluggish downstream demand has so far capped price gains, but market participants warned that any pickup in buying activity could prompt sellers to raise offers, particularly ahead of the traditional manufacturing season.
Several deals for ASEAN-origin cargoes were concluded during the week, which market sources said could serve as a benchmark in negotiations for dutiable imports in the near term. With domestic production still disrupted and supply expected to remain tight, buyers may turn more actively to imports, supported by a stronger Ringgit.
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Chinese PVC Market Eases Despite Stronger Indian Buying Interest
The Chinese PVC market closed the week to 22 August 2025 on a softer note, with export offers falling by $7-12/ton for carbide-based and $18-22/ton for ethylene-based cargoes. Domestic spot prices also edged down by around CNY 50/ton week-on-week.
Some Indian buyers moved to secure additional volumes following the final ruling on the country’s anti-dumping probe into PVC imports from seven countries. However, Chinese traders cautioned that overall demand could weaken heading into September, raising the risk of a bearish trend in the final quarter of the year.
Adding to the pressure, domestic PVC inventories have climbed for nine consecutive weeks, reaching levels last seen in February 2025, underscoring growing stockpiles among sellers.
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