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Morning Briefing - 05 November 2026Indonesia’s import homo-PP offers have climbed to multi-year highs, but converters are increasingly resisting prices above $1,600/ton CIF as sluggish end-product demand limits their ability to absorb further increases. |
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MORNING BRIEFING
CommoPlast Thursday, 05 November 2026
commoplast.com
MARKET MOVEMENT
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Brent CRUDE · $/BBL |
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WTI CRUDE · $/BBL |
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94.62 |
88.12 |
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▼8.98 |
▼7.97 |
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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
POLYPROPYLENE · INDONESIA
Indonesia PP rally hits buyer resistance as import offers could approach peak
Indonesia’s import homo-PP offers have climbed to multi-year highs, but converters are increasingly resisting prices above $1,600/ton CIF as sluggish end-product demand limits their ability to absorb further increases. Sellers have begun trimming offers to stimulate buying interest, although firm upstream costs and tight regional supply leave limited room for deeper discounts.
Meanwhile, domestic PP prices continued to rise on prompt supply constraints, even as converters struggled with shrinking margins. Weaker demand across woven bags, household injection and thermoforming has raised questions over how long sellers can sustain the rally without stronger end-product price acceptance.
Read full story:
Indonesia PP hits demand ceiling as import offers surpass March peaks and local buyers resist
POLYETHYLENE · ASIA
Formosa force majeure threatens US PE export availability as Asian supply tightens
Formosa Plastics has declared force majeure on selected PE grades following an operational incident at its Point Comfort complex in Texas, leaving the extent of capacity losses and restart timeline unclear. The disruption comes as US producers pursue November price increases, potentially strengthening export offers amid tighter prompt availability.
For Southeast Asian buyers, reduced US-origin allocations could further constrain an import market already grappling with Middle Eastern supply cuts, shipping delays and regional production disruptions. Sellers are anticipating firmer November–December offers, although cautious converter demand could limit price acceptance.
Read full story:
Formosa Plastics USA declares force majeure on select PE grades after Point Comfort shutdown
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