Morning Briefing - 06 Oct. 2025
CommoPlast
Morning Briefing
06 October 2025
Brent: $64.53 (á $0.42)
WTI: $60.88 (á $0.40)
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Indonesian PVC Maker Holds October Prices Amid Lingering Weak Demand
A major Indonesian PVC producer opted to roll over its October delivery offers to the domestic market, resisting regional bearish pressure and subdued local demand. The unchanged price list, however, met strong resistance as an increasing number of converters shifted to competitively priced Chinese cargoes to keep production costs in check.
Despite the government’s recent economic stimulus measures, Indonesian buyers remain cautious, prioritising liquidity over inventory build-up. Market sources noted that converters are likely to continue buying on a hand-to-mouth basis until there is a more tangible recovery in downstream demand.
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Middle Eastern homo-PP Inched Lower In India, Responses Remained Lacklustre
At least two major Middle Eastern producers have lowered import homo-PP offers to India by $10-30/ton compared to the previous month, mirroring the broader softening trend across regional markets.
However, initial reactions from Indian buyers were tepid, as importers continued to favour competitively priced domestic cargoes amid persistent rupee volatility against the US dollar. Smilar to Vietnam, Indian market participants anticipate further price concessions ahead, with expectations that Middle Eastern homo-PP cargoes could edge closer to the $800/ton CIF threshold in the near term.
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