Morning Briefing - 13 October 2026

MORNING BRIEFING

CommoPlast                 Tuesday, 13 October 2026

                                                                                                                        commoplast.com

MARKET MOVEMENT

Closing prices, previous trading day. Monomers show price directions only.

TODAY’S DEVELOPMENTS

POLYMERS · VIETNAM

Vietnam import market opens confidently, but buyers balk at higher offers

Vietnam’s polyolefin markets opened the week firmer as China’s post-holiday rally pushed homo-PP and LLDPE film offers above $1,400/ton CIF. However, converters continued to resist higher prices amid comfortable inventories, keeping spot trading subdued on Monday. Tight prompt LLDPE availability lent additional support to domestic prices, while recent cargo arrivals kept HDPE comparatively stable.

Price momentum remains driven by rising costs rather than demand, with Brent above $104/barrel and propylene CFR China extending its 14-week uptrend, gaining just below 50% over the period. Yet, weak replenishment demand and a midday consolidation in Chinese futures tempered the rally, leaving sellers supported by higher replacement costs but struggling to translate firmer offers into stronger trading activity.

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China-led rally lifts Vietnam PP, PE offers past $1,400/ton, but buyers refuse to chase

PLANTS · CHINA

Fujian Gulei prepares domestic launch amid weak polymer margins

China’s Fujian Gulei Petrochemical is advancing trial operations at its new integrated complex, with commercial start-up targeted for the latter part of the fourth quarter, market sources said. The complex comprises a large-scale ethylene cracker, a PP unit and two PE units, with initial output destined for the domestic market rather than direct exports.

Yet, high feedstock costs could undermine operating economics after commissioning, with some sources anticipating run-rate cuts or a temporary shutdown in early 2027. However, alternative crude supplies and integration with sister refining assets could help sustain operations. Initial offers are likely to reflect elevated costs, potentially meeting resistance from converters already grappling with thin margins.

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Fujian Gulei targets fourth-quarter polyolefin launch amid feedstock pivot and cost pressures

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