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Morning Briefing - 22 June 2026Homo-PP markets across ASEAN are repricing sharply lower at the end of last week as progress toward a US-Iran deal drives crude toward multi-month lows, feeding expectations that upstream polymer costs will retrace toward pre-conflict levels. |
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MORNING BRIEFING
CommoPlast Monday, 22 June 2026
commoplast.com
MARKET MOVEMENTS
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Brent CRUDE · $/BBL |
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WTI CRUDE · $/BBL |
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80.57 |
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▲0.72 |
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▲ Naphtha CFR JAPAN |
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— Ethylene CFR NEA |
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▼ Ethylene CFR SEA |
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— Propylene FOB KOREA |
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▼ Propylene CFR CHINA |
Closing prices, previous trading day. Monomers show direction only.
TODAY’S DEVELOPMENTS
POLYPROPYLENE · SOUTHEAST ASIA
Downward pressure in ASEAN PP as crude retreat and lengthening supply converged
Homo-PP markets across ASEAN are repricing sharply lower at the end of last week as progress toward a US-Iran deal drives crude toward multi-month lows, feeding expectations that upstream polymer costs will retrace toward pre-conflict levels. Offers into the region have broken below key psychological thresholds, with a concluded deal from a Northeast Asian producer resetting the floor and sending a strong bearish signal to competing suppliers. The supply picture is broadening simultaneously, with multiple regional origins adding volume and a major Southeast Asian unit set to return to operation within weeks.
With demand seasonally weak and the supply overhang growing, sellers face an uphill task arresting the current slide in the near term.
Read the full story:
Vietnam PP market caves as record-low South Korean deal resets new floor
POLYETHYLENE · VIETNAM
Vietnam PE market buckles under South Korean liquidation drive
South Korean producers emerged as the primary force behind a sharp downward correction in Vietnam's PE import market this week, aggressively liquidating inventories built up during the conflict period as the preliminary US-Iran peace agreement unwound the geopolitical risk premium across energy and petrochemical markets. The cascade moved swiftly from crude through naphtha and into polymer pricing, with sellers cutting offers across HDPE and LDPE grades by amounts that would have been difficult to anticipate at the start of the week.
Read the full story:
South Korean PE triggers fresh slide in Vietnam as upstream plunges and supply concerns ease
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