Morning Briefing - 22 Jan. 2026
CommoPlast
Morning Briefing
22 January 2026
Brent: $65.24 (+ $0.32)
WTI: $60.62 (+ $0.28)
Naphtha CFR Japan: +$10
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: Stable
Propylene CFR China: Stable
*Data represent closing prices of the previous trading day
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China LDPE Film Market Retreats on Softer Futures and Weakening Demand
Spot LDPE film offers in northern China fell sharply by CNY 150–250/ton mid-week, tracking a five-day slump in LLDPE futures on the Dalian Commodity Exchange and subdued buying interest. Market participants indicated that near-term momentum remained limited, with expectations of slower purchasing ahead of the Lunar New Year shutdown in early February.
“The peak season for agricultural film has passed, which could continue to weigh on local LDPE film prices,” a market source noted.
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Indonesian PET bottle Market Rallies on Limited Supply, Strong Demand
The Indonesian PET bottle market climbed to a 13-month high in the week to 21 January 2025, buoyed by tightening spot availability and a sharp depreciation of the rupiah against the US dollar. Seasonal demand has kept trading sentiment constructive, reinforcing expectations that the current upswing could extend in the near term.
Adding to the upward pressure was the weakened Rupiah against the US dollar. The rupiah has depreciated steadily since the start of 2026, sliding to IDR 16,953 per US dollar—its lowest level since April 2025 and close to the historical low of IDR 16,970. The currency weakness has raised import costs and amplified inflationary pressure on dollar-denominated commodities in local terms.
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