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Morning Briefing - 21 Nov. 2025The Indian PVC market is preparing for a fresh round of volatility after a major domestic producer reduced local PVC offers by INR 3,000/ton ($34/ton) earlier this week and introduced a price protection scheme |
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CommoPlast
Morning Briefing
21 November 2025
Brent: $63.38 (- $0.13)
WTI: $59.14 (- $0.30)
Naphtha CFR Japan: Stable
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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Indian PVC Market Braces for Short-Term Volatility
The Indian PVC market is preparing for a fresh round of volatility after a major domestic producer reduced local PVC offers by INR 3,000/ton ($34/ton) earlier this week and introduced a price protection scheme valid from 20–30 November 2025. Market participants noted that the aggressive pricing move was prompted by heavy supply pressure and expectations of stronger competition, following the government’s decision not to impose anti-dumping duties.
Looking ahead, major regional and international suppliers are widely expected to unveil December shipment offers to India with notable reductions, potentially mirroring the scale of the recent domestic cuts. However, with buyers currently holding “very high” inventory levels, sources anticipate subdued procurement activity through the remainder of the month.
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Saudi Major Trimmed December PP, PE Offers to Southeast Asia
In a widely anticipated move, a major Saudi Arabian producer has opened December shipment offers to Southeast Asia with reductions of $20–30/ton from the previous month, underscoring the region’s prevailing softness. Negotiations are already underway, with several buyers submitting bids a further $20–30/ton below the initial price lists.
The latest development has set the tone for December’s pricing direction, with other Middle Eastern suppliers expected to follow suit in the coming week. Market participants continue to adopt a cautious stance, amid concerns that the current bearish sentiment may persist into the months ahead.
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