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Morning Briefing - 15 Jan. 2026The move caught many market participants off guard, particularly as the recent price surge in China had fuelled expectations of higher import offers into Southeast Asia over the past week. |
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CommoPlast
Morning Briefing
15 January 2026
Brent: $66.52 (+ $1.05)
WTI: $62.02 (+ $0.87)
Naphtha CFR Japan: - $1
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: + $5
Propylene CFR China: + $15
*Data represent closing prices of the previous trading day
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Malaysian LDPE surprises Vietnam market with lower February offers
A major Malaysian producer has reportedly released February LDPE shipment offers to Vietnam at $20–30/ton below January levels, defying a firming regional market backdrop. The move caught many market participants off guard, particularly as the recent price surge in China had fuelled expectations of higher import offers into Southeast Asia over the past week.
Market discussions suggested that the controversial pricing decision was driven more by internal offer-setting methodologies than by a material shift in underlying supply-demand fundamentals. Even so, sources noted that other international suppliers are likely to remain aligned with the prevailing market trajectory and may seek to lift selling prices in the near term.
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Asian propylene climbs to three-month highs on cost pressure, PP recovery
The Asian propylene market has extended its firming trend in recent weeks, with spot offers rising to their highest levels in three months, supported by higher upstream costs and an improving downstream PP sector.
As reported earlier, several Chinese propane dehydrogenation (PDH) units have entered partial shutdowns after a sharp rise in LPG prices significantly eroded production margins, tightening spot availability across the region.
An international trading house noted that strong crude oil prices and severe weather conditions in the Northern Hemisphere are expected to keep LPG values elevated in the near term, providing continued support to the firm tone in the Asian propylene market.
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