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Morning Briefing - 30 Jan. 2026China’s Shandong Yulong Petrochemical has begun marketing on-spec LDPE cargoes from its newly commissioned swing unit in Shandong, according to market sources. |
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CommoPlast
Morning Briefing
30 January 2026
Brent: $70.71 (+ $2.31)
WTI: $65.42 (+ $2.21)
Naphtha CFR Japan: +$12
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: +$10
Propylene CFR China: +$5
*Data represent closing prices of the previous trading day
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Chinese PVC export offers hit five-month highs on resilient Indian demand
China’s PVC market extended a firming trend in the week to 28 January 2026, with export offers climbing to five-month highs on the back of resurgent Indian demand, while the domestic market edged up only marginally amid pre-holiday lethargy.
The rally in Chinese PVC exports has been driven primarily by a sharp acceleration in Indian restocking activity. After an initial cautious buying, Indian importers moved decisively to secure volumes ahead of Beijing’s decision to scrap the 13% VAT export rebate effective 1 April 2026. The impending policy shift has injected urgency into procurement strategies, as buyers seek to lock in cargoes before export costs structurally reset.
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China’s Shandong Yulong started marketing on-spec LDPE cargoes
China’s Shandong Yulong Petrochemical has begun marketing on-spec LDPE cargoes from its newly commissioned swing unit in Shandong, according to market sources.
The move marks a key operational milestone for the producer. However, traders noted that incremental supply is entering the market as LDPE sentiment shows signs of softening, following an earlier run-up in prices. The emergence of fresh volumes is therefore being viewed with caution, particularly as buyers reassess near-term demand conditions.
Shandong Yulong has recently completed construction of three LDPE/EVA swing units alongside a standalone LDPE plant. These facilities were originally scheduled to achieve full commercial output by the second quarter of the year, indicating that supply additions may accelerate in the coming months.
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