|
|
Morning Briefing - 09 June 2025Despite the continued depreciation of the Vietnamese Dong against the US dollar, some import activity was observed over the past week. |
|
CommoPlast
Morning Briefing
09 June 2025
Brent: $66.47 (á $1.13)
WTI: $64.58 (á $1.21)
Naphtha CFR Japan: á $3
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: Stable
Propylene CFR China: Stable
____________________________________________________________________
Chinese PET Market Struggled to Retain Momentum
The Chinese PET bottle market returned from the extended Dragon Boat Festival holiday to a sluggish start, facing weakened demand and renewed downward pressure from futures trading. Sellers encountered greater resistance than anticipated in maintaining firm export offers, prompting a downward revision in price lists.
Downward pressure on the PET market has been reinforced by persistent weakness in upstream feedstocks. Both PTA and MEG futures contracts slumped to multi-week lows, undermining cost support despite many PET bottle producers continuing to operate at reduced rates.
___________________________________________________________________ _
Vietnamese PE Buyers Adopt Cautious Replenishment Amid Trade Uncertainty
In line with broader Southeast Asian trends, Vietnamese PE buyers are taking a cautious approach to restocking, as attention remains firmly fixed on the outcome of US trade negotiations ahead of the 9 July moratorium deadline. Persistent uncertainty has curbed appetite for aggressive stockpiling, though a degree of cautious optimism remains that a resolution could be achieved.
Despite the continued depreciation of the Vietnamese Dong against the US dollar, some import activity was observed over the past week. Market sources reported limited transactions for US-origin LLDPE film and Malaysian LDPE film, though most deals were concluded in small volumes, reflecting buyers’ restrained sentiment.
____________________________________________________________________
Follow us on CommoPlast Official Telegram Channel for more: https://t.me/commoplast
Country
Vietnam
About CommoPlast Asia Sdn Bhd
Your empowering market insight site
