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Morning Briefing - 21 Oct. 2025Two major Saudi Arabian producers have unveiled November PE shipment offers to Vietnam with reductions of $40–50/ton for LLDPE film, bringing offers down amid persistent pressure from competitively priced US-origin cargoes. |
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CommoPlast
Morning Briefing
21 October 2025
Brent: $61.29 (á $0.23)
WTI: $57.15 (á $0.16)
Naphtha CFR Japan: Stable
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
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Saudi Producers Trimmed November LLDPE film Offers to Vietnam
Two major Saudi Arabian producers have unveiled November PE shipment offers to Vietnam with reductions of $40–50/ton for LLDPE film, bringing offers down amid persistent pressure from competitively priced US-origin cargoes. HDPE film prices, however, were left unchanged.
Market sources said the downward adjustment came as no surprise, given the steady inflow of US material that continues to weigh on sentiment.
While HDPE film prices have held relatively firmer than LLDPE in recent months due to tighter regional supply, the return of Saudi volumes after a prolonged absence has prompted Vietnamese buyers to take a cautious stance. Many are holding back on new purchases, wary of a potential price correction in the near term.
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Chinese LLDPE film market extends declines, widens price gap with HDPE film
The Chinese PE market continued on a diverging path this week, with HDPE film maintaining relative stability while LLDPE film weakened further, widening the price gap between the two grades to around CNY 500/ton ($70/ton) on average, according to data from CommoPlast.
Market participants attributed the sustained weakness in LLDPE to unfavourable weather conditions that disrupted the agricultural season, delaying typical demand for mulch and greenhouse films. The slowdown has also spilled over into the LDPE segment, while an uptick in packaging demand lent support to the HDPE sector.
Although players remain hopeful that agricultural film demand will eventually rebound, many expressed doubts over whether the recovery would match the strength seen in previous years.
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