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Morning Briefing - 13 Apr. 2026The Southeast Asian PP and PE markets closed the week to 10 April 2026 on a softer footing, as buyers stepped back after completing recent restocking cycles, opting to await clarity from the US–Iran peace negotiations. |
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CommoPlast
Morning Briefing
13 April 2026
Brent: $95.20 (- $0.72)
WTI: $96.57 (- $1.30)
Naphtha CFR Japan: â
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: â
Propylene CFR China: â
*Data represent closing prices of the previous trading day
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China PVC downtrend deepens as carbide-ethylene divergence widens and exports stall
China’s PVC market remains entrenched in a demand-led downcycle, with carbide-based weakness continuing to anchor the complex despite firmer upstream ethylene conditions. The widening carbide-ethylene spread underscores a deepening structural divergence, as softer carbide costs drag the market lower while firmer ethylene prevents a sharper correction.
Export channels for PVC remain subdued, with overseas buyers still digesting stockpiles built ahead of the export VAT exemption removal, while India stays largely absent and geopolitical uncertainty around US–Iran talks continues to stall conviction.
Read full story: China PVC slump deepens as historic ethylene–carbide spread set to persist
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Demand fatigue caps Southeast Asia PP, PE momentum despite supply shifts
The Southeast Asian PP and PE markets closed the week to 10 April 2026 on a softer footing, as buyers stepped back after completing recent restocking cycles, opting to await clarity from the US–Iran peace negotiations.
Across the region, early signs of demand fatigue have surfaced, potentially limiting any near-term upside—even in the absence of a breakthrough in the geopolitical backdrop. Market participants increasingly questioned the sustainability of prior gains amid weakening downstream appetite.
Selective price concessions were observed in Vietnam and India, while Indonesia and Malaysia saw a surge in offers for localised Chinese-origin materials. The resulting perception of improved availability further dampened buying interest, reinforcing a cautious, wait-and-see stance among converters and traders alike.
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