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Morning Briefing - 23 Sept. 2025The Indonesian homo-PP market continued to slide at the start of the week, with a major local producer lowering spot offers by IDR 170,000/ton ($10/ton) from last week. |
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CommoPlast
Morning Briefing
23 September 2025
Brent: $66.57 (â $0.11)
WTI: $62.64 (â $0.04)
Naphtha CFR Japan: â $1
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: â $5
Propylene CFR China: â $5
*Data represent closing prices of the previous trading day
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Chinese PVC Inched Higher in Malaysia; Buyers Pushed Back Strongly
Chinese PVC suppliers raised import offers to Malaysia this week, despite muted demand and growing market expectations for softer pricing ahead. Some ethylene-based PVC cargoes were quoted $10–15/ton higher than the previous week, tracking a minor rebound in China’s domestic market.
Malaysian buyers, however, resisted early engagement and opted to wait for benchmark offers from a major Taiwanese producer, widely expected to show reductions from last month. Market sources noted that regional supply pressure and a steady build-up in China’s inventories could force Chinese sellers to adjust their pricing stance in the near term.
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Indonesian PP Market Extends Losses on Persistent Weakness
The Indonesian homo-PP market continued to slide at the start of the week, with a major local producer lowering spot offers by IDR 170,000/ton ($10/ton) from last week. The cut marked the 13th consecutive weekly decline, driven by abundant supply and subdued downstream demand.
Market sentiment remained downbeat, with many participants bracing for further softness ahead. “The supply is simply ample. With one major producer postponing maintenance and another ramping up operating rates, the current weakness is likely to spill into the fourth quarter,” a buyer commented.
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