Morning Briefing - 10 Feb. 2026
CommoPlast
Morning Briefing
10 February 2026
Brent: $69.04 (+ $0.99)
WTI: $64.36 (+ $0.81)
Naphtha CFR Japan: -$5
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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Indonesian producer extends PP and PE price rally into seventh week
The Indonesian PP and PE market opened the week on a firm footing after a major domestic producer announced another round of local price increases, extending the rally into a seventh consecutive week. The latest adjustments, however, diverged sharply by grade, underscoring uneven supply-demand dynamics across the polymer slate.
LLDPE film prices were lifted by IDR 80,000/ton, while HDPE film posted a far steeper increase of IDR 510,000/ton, reflecting a pronounced tightness in HDPE film availability. Market participants attributed the outsized HDPE hike to the absence of immediate competitive pressure, which emboldened the producer to push through aggressive increases despite signs of softening downstream buying interest.
Converters in the HDPE bag segment reported growing difficulty in passing higher resin costs through to end-product prices, limiting their willingness to absorb further feedstock hikes. This mismatch between upstream pricing momentum and downstream affordability continues to weigh on purchasing sentiment, even as producers maintain a firm stance.
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Taiwanese major raises March PVC offers to Asia as buyer resistance emerges
A major Taiwanese producer has announced March PVC shipment offers to Asia at a $40/ton increase from February, extending its price rally into a third consecutive month amid improving upstream and demand-side fundamentals. Market reactions, however, were mixed, with buyers — particularly in India — flagging concerns over the producer’s rapidly eroding competitiveness following successive hikes.
While the producer maintained a firm stance, pockets of caution persisted across the region. Some market participants warned that Chinese PVC suppliers could face mounting sales pressure in the post-Lunar New Year period as inventories build and export windows narrow ahead of the removal of export rebates. Any downward adjustment in China-origin offers could cap further upside and weigh on broader market sentiment.
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