Morning Briefing - 05 Mar. 2026
CommoPlast
Morning Briefing
05 March 2026
Brent: $81.40 (Stable)
WTI: $74.66 (+ $0.10)
Naphtha CFR Japan: + $39
Ethylene CFR NEA: + $20
Ethylene CFR SEA: + $10
Propylene FOB Korea: + $35
Propylene CFR China: + $35
*Data represent closing prices of the previous trading day
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Domestic supply constraints push Indonesian buyers towards imports
Indonesia’s market is trading on fear, not fundamentals. With the Strait of Hormuz shut and domestic producers declaring force majeure, buyers have rushed into imports as the only viable outlet. As a result, Vietnamese cargoes May shipments have exhausted, Middle Eastern suppliers are holding back offers, and liquidity is tightening, pushing Chinese-origin deals above $1000/ton in what is clearly defensive buying rather than demand-led growth.
You can read this in detail: Indonesia – Weekly PP Market Wrap - 04 Mar. 2026
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Vietnam PE import premiums hiked up nearly $250/ton as Strait of Hormuz disruption deepens
Vietnam’s import PE market is rallying sharply as a leading Saudi producer lifts HDPE and LLDPE film offers by nearly $250/ton week-on-week, highlighting mounting concerns over forward shipment security amid the Strait of Hormuz shutdown. With a significant share of Vietnam’s PE imports sourced from the Middle East, the market is highly vulnerable to prolonged disruption. Most other producers have held back, reassessing exposure as US–Iran tensions escalate. Domestic trading houses are suspending quotations, while buyers tread cautiously, hoping for a ceasefire.
With uncertainty persisting, Vietnam faces a market driven more by supply security than price, where premiums could surge and shortages may soon become unavoidable.
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