Morning Briefing - 29 Oct. 2025
CommoPlast
Morning Briefing
29 October 2025
Brent: $64.40 (- $1.22)
WTI: $60.15 (- $1.16)
Naphtha CFR Japan: - $9
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: - $10
Propylene CFR China: - $15
*Data represent closing prices of the previous trading day
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Chinese PET Bottle Market Rises Ahead of Anti-Involution Talks
Export offers for Chinese bottle-grade PET chips strengthened moderately on Tuesday, 28 October 2025, as producers adopted a firmer pricing stance in anticipation of a government-led meeting aimed at tackling overcapacity and unhealthy competition in the PET and PTA sectors.
Although the specific measures to be discussed remain unclear, market insiders believe the government could broaden its oversight on new capacity additions and project approvals — a move that could lend short-term support to market sentiment.
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India Postpones BIS Mandate on PP to April 2026
India’s Ministry of Chemicals and Fertilizers has once again postponed the implementation of the Quality Control Order (QCO) for PP, extending the enforcement date to 24 April 2026.
Originally announced in 2021, the QCO has faced several delays — most recently from its scheduled rollouts in December 2024 and June 2025 — as regulators continue refining compliance requirements and addressing concerns raised by industry stakeholders.
Market participants are now watching closely to see if a similar extension will be granted for the PVC QCO, which remains under review.
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