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CommoPlast

Morning Briefing

29 August 2025

Brent: $68.62 (á $0.57) 

WTI: $64.60 (á $0.45)

Naphtha CFR Japan: á $4

Ethylene CFR NEA:  Stable

Ethylene CFR SEA: Stable

Propylene FOB Korea: Stable                       

Propylene CFR China: Stable

*Data represent closing prices of the previous trading day

www.commoplast.com     

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Another Saudi PE Major Surprised Vietnam Market with Steep Discounts 

A second major Saudi Arabian producer has wrapped up September transactions in Vietnam, finalizing LLDPE film prices at $30/ton below its initial offers. The deeper-than-expected reductions caught many buyers off guard but sparked a swift uptake of available allocations.

“We initially anticipated only a $10/ton adjustment, considering the producer had just restarted operations after a month-long shutdown. Such steep cuts may signal underlying demand weakness in other regions,” a flexible packaging converter remarked.

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Chinese PVC Market Holds Steady Amid Growing Downside Pressure

The Chinese PVC market remained largely unchanged in the week to 28 August 2025, with suppliers keeping spot offers firm despite dwindling inquiries from Indian buyers and a notable build-up in inventories. Elevated coking coal futures on the Dalian Commodity Exchange continued to restrict coal-based producers from trimming carbide-based PVC prices, as they sought to safeguard margins.

Market participants are now turning their attention to September. Many expect the government to relax coal output restrictions after the Victory Day Parade on 3 September, a move that could open the door for deeper discounts from local producers to reignite demand.

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