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Morning Briefing - 25 Nov. 2025Vietnam’s PE market opened the week on a softer footing after two major Saudi Arabian producers issued December loading offers with reductions. Even so, conversations among buyers and traders have increasingly turned to whether the market may be nearing a cyclical floor. |
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CommoPlast
Morning Briefing
25 November 2025
Brent: $63.37 (+ $0.81)
WTI: $58.84 (+ $0.78)
Naphtha CFR Japan: - $1
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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Two Saudi Producers Cut December PE Offers to Vietnam as Market Probes for a Floor
Vietnam’s PE market opened the week on a softer footing after two major Saudi Arabian producers issued December loading offers with reductions of $20/ton for HDPE film and $40/ton for LLDPE film. The cuts mark the fourth consecutive month of declines and underscore the persistent downward pressure on regional prices.
Even so, conversations among buyers and traders have increasingly turned to whether the market may be nearing a cyclical floor. According to an international trading house, US-origin cargoes — which have been a major factor behind recent price erosion — are becoming less competitive as availability tightens and prices show signs of inching up.
Market participants remain cautious for now, but some suggest that fading US pressure could limit the scope of further declines heading into the final month of the year.
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Indonesian PP Market Held Firm as Regional Sentiment Softens
Indonesia’s domestic homo-PP market began the week on a steady note, with a major local producer keeping spot offers unchanged despite the softer tone prevailing across the region. The producer’s firm stance helped shield the market from broader bearish cues.
Current homo-PP yarn and injection offers have climbed to their highest levels since 19 July 2025, supported by easing inventory pressure after strong sales in the previous weeks. Market participants noted that healthier stock positions have given local sellers greater pricing confidence.
Nonetheless, some buyers and traders warned that the current stability may widen an opportunity for imports to regain a competitive edge, especially as PP prices continue to soften in nearby China and Vietnam.
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