Malaysia's polyolefin market extended its bullish run this week, propelled by re-escalated US-Iran tensions that rippled through the Red Sea and pushed a major domestic producer to suspend all offers by the third week of July.
PP and LLDPE 2609 futures on the Dalian Commodity Exchange opened weaker on Monday and traded within a softer range, pressured by declining crude oil prices and easing concerns over US-Iran tensions following weekend developments.
Although crude markets opened lower this week, yet upstream weakness has done little to shift sentiment on the ground. The dominant concern across the domestic market now is supply, with prompt cargo availability, rather than feedstock cost, setting the tone for pricing this week.
The Chinese PVC market edged lower in the week ending 31 July 2026, bringing a three-week rally to an end as weakness across the energy complex and softer futures trading weighed on spot sentiment.