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Morning Briefing - 20 Nov. 2025China’s carbide-based PVC market softened further this week, with export offers edging $5/ton lower and domestic spot prices slipping by around CNY 50/ton. |
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CommoPlast
Morning Briefing
20 November 2025
Brent: $63.51 (- $1.38)
WTI: $59.44 (- $1.30)
Naphtha CFR Japan: + $5
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 Carbide-based PVC Market Eased on Falling Coal Prices
China’s carbide-based PVC market softened further this week, with export offers edging $5/ton lower and domestic spot prices slipping by around CNY 50/ton. Market participants attributed the downtrend primarily to the sharp fall in coking coal futures, which undermined sentiment and prompted producers to adjust prices accordingly.
In contrast, ethylene-based PVC offers saw a swift uptick, reacting immediately to India’s removal of anti-dumping duties—a development that briefly injected bullishness into the market, even as overall fundamentals remained muted.
Across Asia, consumption trends stayed largely subdued. In India, ample supply and a cautious purchasing stance kept buying interest minimal, as overseas customers preferred to delay fresh commitments until key regional suppliers unveil their December shipment offers.
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US-origin LLDPE Film Offers Tick Higher in Southeast Asia
In a notable shift, a major international supplier raised import offers for US-origin LLDPE film to Indonesia and Vietnam by $10/ton from the previous week, pointing to the lack of inventory pressure. The supplier reported that its 2025 allocation has already been fully placed, reducing any urgency to implement further price cuts for now.
Market reaction, however, remained muted. Domestic conditions in both Indonesia and Vietnam stayed soft amid comfortable supply levels and subdued downstream demand. Expectations of increased domestic availability in the coming months further dampened buying interest, with many participants opting to delay fresh negotiations.
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