Morning Briefing - 08 October 2026

Thai PE prices tumble for third straight week, defying elevated upstream costs

A major Thai PE producer has lowered its offers to Indonesia for the third consecutive week, bringing cumulative declines to 5.9% for HDPE and 7.2% for LLDPE in just three weeks.

The sustained downturn has surprised market participants, particularly as elevated upstream costs were widely expected to lend support to regional PE prices.

“Weak demand and potentially stronger competition from a recently restarted Malaysian plant could be the main drivers behind these pricing decisions,” an Indonesian buyer commented.

Despite successive price reductions, buying interest remains subdued. Indonesian converters are largely well stocked and prefer to await clearer signals from China's post-Golden Week market before making fresh commitments.

HDPE discounts draw Vietnamese buyers back, but demand remains selective

Vietnam's HDPE film market appears to have reached a price ceiling this week, prompting several major overseas suppliers to offer concessions to revive buying interest.

Data compiled by CommoPlast showed that at least one international producer reduced offers for US-origin HDPE film by 4.4–5.2%, while a Saudi producer lowered its asking price by 6.9% from its initial guidance during a bid-collection exercise in late September.

The concessions have yielded results, with buyers returning to the market for fresh purchases. However, the recovery remains selective.

A key advantage shared by these cargoes is their availability in bonded warehouses across Asia, offering shorter delivery lead times and reduced shipping risks. Direct shipments from the US, meanwhile, continue to face firm buyer resistance.