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Morning Briefing - 28 October 2026China’s LLDPE film prices have climbed to a near decade-high on 26 October, with elevated feedstock costs, export demand and constrained import availability sustaining the rally despite weak domestic demand. |
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MORNING BRIEFING
CommoPlast Wednesday, 28 October 2026
commoplast.com
MARKET MOVEMENT
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Brent CRUDE · $/BBL |
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WTI CRUDE · $/BBL |
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113.88 |
99.90 |
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▼1.93 |
▼1.86 |
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▲ Naphtha CFR JAPAN |
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▲ Ethylene CFR NEA |
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▲ Ethylene CFR SEA |
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▲ Propylene FOB KOREA |
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▲ Propylene CFR CHINA |
Closing prices, previous trading day. Monomers show price directions only.
TODAY’S DEVELOPMENTS
POLYETHYLENE· CHINA
China LLDPE film hits decade high as buyers resist further increases
China’s LLDPE film prices have climbed to a near decade-high on 26 October, with elevated feedstock costs, export demand and constrained import availability sustaining the rally despite weak domestic demand. Prices surpassed CNY 75/ton from the previous peak recorded in December 2016.
The Iran conflict has kept energy prices elevated, squeezing production margins and limiting sellers’ flexibility to concede on price. Meanwhile, prolonged plant shutdowns and a sharp rise in exports have tightened domestic availability, while firmer futures have reinforced bullish sentiment.
However, trading sentiment has yet to translate into stronger buying interest, as converters continue to favour needs-based procurement amid concerns that prices may be nearing their ceiling. With seasonal demand expected to slow ahead of Lunar New Year, the market faces a crucial test of whether supply constraints can sustain the rally or persistent buyer resistance will eventually cap further gains.
POLYETHYLENE· VIETNAM
Saudi PE producer cuts November prices to Vietnam; meeting buyers
A major Saudi Arabian producer has finalised November PE prices to Vietnam below initial guidance for most grades, as sluggish distribution and buyer resistance outweighed supply concerns while LDPE remained firm on regional scarcity. LLDPE settlement matched buyers’ floor, undercutting Chinese traders’ attempts to re-export Saudi cargoes at higher prices.
With the arbitrage window closing, high-cost and re-export traders may now have to lower offers to clear inventory. The outcome highlights a widening gap between supply-driven price support and buyers’ willingness to pay. While LDPE shortages continued to underpin prices, ample unsold stocks and low buying appetite may force suppliers to concede on LLDPE and HDPE film.
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