Morning Briefing - 12 Nov. 2025
CommoPlast
Morning Briefing
12 November 2025
Brent: $65.16 (+ $1.10)
WTI: $61.04 (+ $0.91)
Naphtha CFR Japan: - $6
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: Stable
Propylene CFR China: + $10
*Data represent closing prices of the previous trading day
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Indonesian Producer Slashed Local PVC Offers Amid Lukewarm Demand
A major Indonesian producer has lowered its November PVC offers to the domestic market by $30/ton from the previous month, breaking a two-month streak of stable pricing. The adjustments, according to market sources, were inevitable considering the intense downward pressure from softening regional market and lukewarm demand.
Demand from the PVC pipe sector has remained soft, weighed down by subdued construction activity. Despite recent government stimulus measures, sentiment among market participants remains pessimistic, with few expecting a meaningful rebound in the near term.
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Malaysian PP Market Softened Despite Firm Regional Momentum
The Malaysian PP market edged lower this week, bucking the broader regional uptrend, as domestic trading houses trimmed offers to stimulate weak demand. Locally produced homo-PP injection grades were reported down by around MYR 100/ton week-on-week, though actual uptake remained subdued.
“Most customers are keeping inventories lean ahead of year-end financial closings,” a local trading house said. “Nevertheless, we remain cautiously optimistic that sentiment could improve in the coming month, supported by festive season preparations and potential demand upticks.”
Market watchers noted that while the regional PP market shows firming trends, domestic activity in Malaysia continues to be restrained by cautious buying and limited restocking, suggesting that prices may remain under pressure in the short term.
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