Morning Briefing - 03 Nov. 2025
CommoPlast
Morning Briefing
03 November 2025
Brent: $65.07 (+ $0.07)
WTI: $60.98 (+ $0.41)
Naphtha CFR Japan: + $8
Ethylene CFR NEA: - $25
Ethylene CFR SEA: - $25
Propylene FOB Korea: - $20
Propylene CFR China: - $20
*Data represent closing prices of the previous trading day
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Malaysian Producers Announced November PP and PE Offers to Local Market
A major Malaysian producer has announced its November PP and PE offers with fresh reductions from the previous month, reflecting continued competitive pressure and sluggish downstream demand. Buyer response was muted, with many converters indicating sufficient on-hand inventories, while others preferred to wait for additional offers before making fresh purchasing decisions.
According to market sources, the latest price list showed decreases of MYR 150/ton for PP and MYR 200/ton for PE. The sharper-than-expected reduction in PE surprised some market participants, who had earlier anticipated more pronounced downward adjustments for PP amid stronger price pressure in that segment.
More Malaysian producers are expected to release their November offers in the coming weeks. Despite the sharp downward move by the leading producer, other suppliers may opt to keep prices stable, especially for cargoes already priced at the lower end of the market range, amid persistently wide price gaps.
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Chinese LDPE Film Market Extends Losses on Rising Supply Concerns
China’s LDPE film market continued to weaken over the past week, even as the country’s HDPE and LLDPE film segments showed signs of stabilisation. The sustained decline was largely attributed to expectations of increased domestic supply following the startup of ExxonMobil’s new Huizhou facility, which is anticipated to add significant volumes to the market. The latest dip marked the sixth consecutive week of losses, extending the downward trend that resumed after a brief rebound in mid-September.
Despite the continued softness, some market participants expressed cautious optimism that seasonal demand from the agricultural film sector could help slow or eventually halt the recent slide. Still, most buyers remained conservative in their procurement, focusing on immediate production needs while deferring larger purchases in anticipation of further price concessions in the near term.
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