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Morning Briefing - 23 Oct. 2025After weeks of hesitation, a leading Chinese producer has finally lowered export homo-PP offers below the key $800/ton mark on an FOB China basis, reflecting ongoing pressure from lackluster overseas demand. |
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CommoPlast
Morning Briefing
23 October 2025
Brent: $62.59 (+ $1.27)
WTI: $58.50 (+ $1.26)
Naphtha CFR Japan: + $12
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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China’s Homo-PP Exports Slip Below $800/ton Amid Persistent Demand Weakness
After weeks of hesitation, a leading Chinese producer has finally lowered export homo-PP offers below the key $800/ton mark on an FOB China basis, reflecting ongoing pressure from lackluster overseas demand. The price adjustment has sparked a modest pickup in buying interest, though many customers remain cautious, preferring to wait for clearer signals on market direction.
While talk of further price reductions continues, Chinese suppliers are expected to tread carefully in the near term as rebounding upstream costs limit room for deeper cuts. Market participants are also watching closely for insights from the ongoing Fourth Plenary Session, which could shed light on Beijing’s policy outlook for the petrochemical industry.
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Middle Eastern Producers Finalize November PE Prices; Buyers Push Back on Limited Discounts
Major Middle Eastern producers have begun finalizing November PE shipment prices following earlier announcements this week. In Vietnam, deals were reportedly concluded with an additional $20/ton discount from initial price lists, though many buyers trimmed their purchase volumes, claiming the reductions fell short of expectations.
As reported earlier, with international suppliers maintaining a firmer stance on US-origin LLDPE film cargoes, the downward pressure on other sellers has been somewhat alleviated. Other Middle Eastern producers are expected to follow suit in the days ahead, keeping both HDPE and LLDPE film prices above the $850/ton threshold in Southeast Asia.
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