Morning Briefing - 03 Sept. 2025
CommoPlast
Morning Briefing
03 September 2025
Brent: $69.14 (á $0.99)
WTI: $65.59
Naphtha CFR Japan: á $4
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: á $3
Propylene CFR China: á $3
*Data represent closing prices of the previous trading day
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Chinese homo-PP Market Hit Multi-Year Lows
The Chinese homo-PP market continued its downward spiral on 2 September 2025, extending losses for the tenth consecutive week under the weight of abundant domestic supply and subdued demand. Prices have now slipped below the trough recorded in mid-June 2023, reaching levels not seen since April 2020.
China’s export market has mirrored the domestic downtrend, with homo-PP yarn and injection offers hitting a record low. Yet even at these levels, competitiveness has eroded. “We are losing ground in Southeast Asia, where South Korean and ASEAN-origin cargoes are moving below $900/ton including freight,” another Chinese producer said.
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Indonesian PP, PE Market Rose on Exchange Rates
The Indonesian PP and PE market opened September on a firmer note, largely supported by the depreciation of the Rupiah, though HDPE bucked the trend with modest declines. While immediate buying activity was limited, market participants suggested that unexpected discounts on HDPE could spur some restocking interest.
Despite recent protests in Jakarta, industrial operations in surrounding areas have remained largely unaffected, and domestic deliveries were reported as normal. Market participants, however, remain cautious, noting that sentiment may take time to recover fully.
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