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Morning Briefing - 08 Dec. 2025China’s domestic LDPE film market has continued its prolonged decline, extending a weakening trend that has persisted for nearly 15 weeks amid muted demand and ongoing substitution by cost-conscious converters. |
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CommoPlast
Morning Briefing
08 December 2025
Brent: $63.75 (+ $0.49)
WTI: $60.08 (+ $0.41)
Naphtha CFR Japan: +$4
Ethylene CFR NEA: +$5
Ethylene CFR SEA: +$5
Propylene FOB Korea: Stable
Propylene CFR China: Stable
*Data represent closing prices of the previous trading day
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Chinese LDPE Film Market Extends Slide as Downward Pressure Deepens
China’s domestic LDPE film market has continued its prolonged decline, extending a weakening trend that has persisted for nearly 15 weeks amid muted demand and ongoing substitution by cost-conscious converters. On an EXW China basis, LDPE film prices have fallen a cumulative CNY 850/ton ($120/ton), bringing current levels to their lowest point since July 2023.
Even with the sharp correction, LDPE film still holds a premium of more than CNY 1,800/ton ($255/ton) over LLDPE film, a spread that many buyers view as increasingly difficult to justify and reflective of heightened downside risk. The upcoming commissioning of new domestic capacities, combined with the expected arrival of previously procured imported cargoes, has reinforced market expectations that LDPE film prices may continue to soften in the weeks ahead.
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Chinese PET Bottle Market Extends Gains Despite Weak Buying Interest
The Chinese PET bottle market maintained its upward momentum in the week to 5 December 2025, marking a second consecutive week of increases supported by rising upstream costs. The advance, however, was capped by subdued buying appetite and mounting concerns over a potential supply overhang as new production capacities near start-up.
Gains were driven largely by a sharp rebound in PX and PTA futures on the Commodity Exchange, in line with broader strength across the upstream energy and feedstock complex. Yet with Fuhai Group New Energy Holdings set to bring newly built PET facilities online, market participants questioned the durability of the recent price hikes amid a looming expansion in supply.
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