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Morning Briefing - 02 June 2026Vietnam’s import PP and PE markets opened the week on firmer footing as major Chinese suppliers raised offers following a strong rebound in futures prices. |
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CommoPlast
Morning Briefing
02 June 2026
Brent: $94.98 (+ $3.86)
WTI: $92.16 (+ $4.80)
*Data represent closing prices of the previous trading day
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Chinese PP, PE offers rebound in Vietnam, but buyers stay sidelined
Vietnam’s import PP and PE markets opened the week on firmer footing as major Chinese suppliers raised offers following a strong rebound in futures prices. According to CommoPlast data, spot homo-PP and HDPE film offers increased by $20/ton from late last week, tracking gains on the Dalian Commodity Exchange and reinforcing sellers’ confidence.
The upward price adjustment, however, failed to stimulate buying interest. Vietnamese converters and traders largely resisted the higher offers, opting to postpone fresh purchases amid expectations that the recent recovery may prove short-lived. Market participants continued to view underlying demand conditions as fragile, limiting their willingness to replenish inventories at elevated levels.
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Saudi LLDPE film extends losses in China despite futures rebound
Saudi-origin LLDPE film offers continued to weaken in the Chinese import market despite a strong rally in futures prices. The most actively traded LLDPE contract on the Dalian Commodity Exchange climbed CNY 163/ton ($24/ton) on the first trading day of the week, buoyed by concerns over tightening coking coal supply and broader spillover strength across the commodity complex.
The gains in paper markets, however, failed to translate into stronger physical demand. Trading houses reduced spot offers for Saudi-origin LLDPE film by a further $10-20/ton from the previous week in an effort to stimulate transactions and test market acceptance. Despite support from a stronger yuan, Chinese buyers showed little urgency to secure prompt cargoes. Instead, many actively benchmarked Saudi material against competitively priced non-dutiable alternatives, further eroding the attractiveness of dutiable imports.
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