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Morning Briefing - 10 Oct. 2025Market sentiment remained cautious on the first trading day, with participants closely monitoring the impact of surging US-origin PE inflows and the pace of downstream demand recovery. |
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CommoPlast
Morning Briefing
10 October 2025
Brent: $65.22 (â $1.03)
WTI: $61.51 (â $1.04)
Naphtha CFR Japan: á $1
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: Stable
Propylene CFR China: Stable
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Chinese Polyolefin Market Reopens on Soft Note as Futures Extend Losses
The Chinese polyolefin market resumed trading after the Golden Week holiday to a bearish start, as futures on the Dalian Commodity Exchange plunged to multi-year lows amid higher-than-expected inventory accumulation. Spot PP and PE prices in the domestic market declined by CNY 50–100/ton from pre-holiday levels, compelling international suppliers to trim offers to maintain competitiveness.
Market sentiment remained cautious on the first trading day, with participants closely monitoring the impact of surging US-origin PE inflows and the pace of downstream demand recovery. Despite the recent production disruption at Dow’s Freeport petrochemical complex, industry players expect limited effect on the market, noting that most US cargoes currently offered are scheduled for November and December loading.
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Indian PP Market Extended Losses Amid Persistent Demand Weakness
The Indian PP market continued to trend lower as a key domestic producer announced its second round of price reductions since early October, cutting homo-PP offers by INR 1,000/ton and copolymer PP by INR 1,500/ton. The latest revisions have pushed spot homo-PP offers closer to the $800/ton import-parity mark—a level closely monitored by Indian producers as a reference for adjusting near-term operating rates.
Demand across downstream sectors remained subdued ahead of the upcoming Diwali holidays, with buyers limiting purchases to immediate needs while anticipating further discounts amid the region’s broad-based market softness.
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