|
|
Morning Briefing - 02 Jul. 2025A key Malaysian producer has announced higher domestic PP and PE offers for July, aligning with expectations of cost-driven adjustments. However, the timing of the price hikes coincides with mounting market caution |
|
CommoPlast
Morning Briefing
02 July 2025
Brent: $67.11 (á $0.37)
WTI: $65.45 (á $0.34)
Naphtha CFR Japan: â $2
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: Stable
Propylene CFR China: Stable
____________________________________________________________________
Malaysian Producer Lifted Local PP, PE Offers Amid Dwindling Demand
A key Malaysian producer has announced higher domestic PP and PE offers for July, aligning with expectations of cost-driven adjustments. However, the timing of the price hikes coincides with mounting market caution and regulatory headwinds, resulting in a muted initial response from buyers.
The hasty policy change has left many market participants grappling with compliance issues. A number of buyers report delays in issuing or receiving invoices as they work to update internal systems to reflect the SST and e-invoicing obligations.
Compounding the cautious sentiment, broader regional markets continue to face downward pressure, prompting Malaysian buyers to adopt a wait-and-see approach. Many anticipate potential spillover effects if the current softening trend across Asia deepens in the coming weeks.
____________________________________________________________________
India Initiated Anti-Dumping Probe Into LLDPE Imports from Six Countries
The Indian government has initiated an anti-dumping investigation into LLDPE imports from six countries, namely, Kuwait, Malaysia, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The action follows a petition filed by the Chemicals and Petrochemicals Manufacturers’ Association (CPMA) on behalf of major local producers Haldia Petrochemicals Ltd (HPL) and HPCL-Mittal Energy Ltd (HMEL), with support from Reliance Industries Ltd.
In a significant shift from the original application, the authorities have broadened the scope of the investigation to cover two tariff lines: HS codes 3901 10 10 and 3901 40 10.
Notably, Singapore—initially listed in the petition—was excluded from the final investigation. While no formal explanation was given, market observers interpret the removal as either a reflection of evolving trade patterns or diplomatic considerations.
____________________________________________________________________
Follow us on CommoPlast Official Telegram Channel for more: https://t.me/commoplast
Country
China
About CommoPlast Asia Sdn Bhd
Your empowering market insight site
