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Morning Briefing - 26 Nov. 2025Vietnam’s imported homo-PP market regained some ground this week as international and regional suppliers adopted a firmer pricing stance, citing the recent upswing in ocean freight rates. |
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CommoPlast
Morning Briefing
26 November 2025
Brent: $62.48 (- $0.89)
WTI: $57.95 (- $0.89)
Naphtha CFR Japan: - $2
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: Stable
Propylene CFR China: + $5
*Data represent closing prices of the previous trading day
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Vietnamese PP Market Grapples With Rising Freight Costs and Soft Demand
Vietnam’s imported homo-PP market regained some ground this week as international and regional suppliers adopted a firmer pricing stance, citing the recent upswing in ocean freight rates. The shift follows last week’s softening trend and has prompted a reassessment of near-term price direction among buyers.
Although fresh offers from major Chinese suppliers were largely unchanged, delivery delays have begun to surface, prompting several buyers in the northern region to return to the domestic spot market to cover immediate supply gaps. Adding to the upward pressure, a Thai producer raised weekly offers by $10/ton.
Still, sentiment remains cautious. Market participants noted that freight-driven support may prove temporary, particularly as year-end shipping volumes ease and expectations grow for the potential reopening of the Suez Canal. Players are closely tracking global container rate movements to assess how freight dynamics may shape the regional petrochemical pricing trajectory in the coming weeks.
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Taiwanese Major Delayed December PVC Price Announcement
A leading Taiwanese PVC producer has once again delayed the release of its December shipment offers to Asian markets, a move that market participants say reflects mounting uncertainty over regional demand. While a downward adjustment is widely anticipated, views differ on how substantial the reductions may be.
Industry sources expect the producer to unveil its new price list on Wednesday, 26 November. However, with domestic inventories remaining elevated and India’s regulatory hurdles for imports now lifted, buying interest is likely to stay muted unless suppliers opt for deeper-than-expected cuts. Market players noted that sentiment could remain soft in the near term as buyers wait for clearer signals on both supply pressure and demand recovery.
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