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Morning Briefing - 22 Oct. 2025A key concern among market participants is that Chinese suppliers may have little choice but to accept lower bids in order to conclude deals ahead of India’s upcoming anti-dumping duty implementation. |
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CommoPlast
Morning Briefing
22 October 2025
Brent: $61.32 (+ $0.31)
WTI: $57.82 (+ $0.30)
Naphtha CFR Japan: + $3
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: - $10
Propylene CFR China: - $15
*Data represent closing prices of the previous trading day
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US-origin LLDPE Film Extends Losses in SEA; Buyers Eye Bottom Levels
Barring November shipment offers from major Saudi Arabian producers at the start of the week, the Southeast Asian LLDPE film market nudged a notch lower on Tuesday, 21 October 2025, with US-origin cargoes continuing to anchor the lower end of the price range. In Indonesia, the latest offers for this origin fell by $10/ton, while Malaysian buyers reported a steeper drop of $20/ton.
Market sources said the pace of price declines has slowed, suggesting the market may be nearing a floor. LyondellBasell’s recent move to lift export offers from the US, combined with easing US–China trade tensions, has fueled expectations that Chinese buyers could maintain steady interest in US-origin materials in the near term.
Still, sentiment across the region remained cautious, with most converters opting to delay major purchases while reassessing short-term demand prospects.
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Malaysian PVC Market Holds Stable to Soft as Caution Prevails
Following a major Taiwanese producer’s move to cut November shipment offers to Asia, other regional and international PVC suppliers have also announced their new price lists to Malaysia. However, several sellers chose to maintain previous levels rather than follow the downward trend, citing severe margin pressure.
Despite these efforts, market sentiment remained subdued as the monsoon season and weak downstream demand continued to weigh on buying confidence. Buyers largely stayed on the sidelines, wary of an uncertain near-term outlook.
A key concern among market participants is that Chinese suppliers may have little choice but to accept lower bids in order to conclude deals ahead of India’s upcoming anti-dumping duty implementation.
As of this report, several transactions were concluded at moderate discounts from initial offers, underscoring the growing challenge sellers face in securing deals without price concessions.
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