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Morning Briefing - 25 June 2026Indonesian LLDPE film import prices have crossed a crucial level for the first time since the Strait of Hormuz blockade, as a wave of redirected Western supply meets near-absent buyer appetite across Southeast Asia. |
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MORNING BRIEFING
CommoPlast Thursday, 25 June 2026
commoplast.com
MARKET MOVEMENTS
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Brent CRUDE · $/BBL |
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WTI CRUDE · $/BBL |
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73.74 |
70.34 |
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▼3.34 |
▼2.87 |
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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
POLYETHYLENE · INDONESIA
LLDPE film prices in Indonesia breach the three-digit threshold
Indonesian LLDPE film import prices have crossed a crucial level for the first time since the Strait of Hormuz blockade, as a wave of redirected Western supply meets near-absent buyer appetite across Southeast Asia. The repricing has been swift and regionally coordinated, with Vietnam having moved further still, and Indonesian buyers now anchoring bids to those lower floor levels rather than chasing any settlement above them. Supply built deliberately during the Hormuz closure has arrived into a market weakened by competing origins, softening end-use demand, and a geopolitical timeline that compressed faster than producers anticipated.
Read the full story:
US LLDPE breach three-digit threshold in Indonesia as regional intake stalls
POLYETHYLENE · CHINA
Barzan explosion deepens Qatari PE supply uncertainty as US mega-capacity nears startup
A fatal explosion at QatarEnergy's Barzan gas processing facility has severed a critical ethane supply link for downstream PE producers in Ras Laffan, with the feedstock deficit expected to cascade through to LDPE and LLDPE output at Mesaieed over the medium term. The incident compounds an already weakening Gulf supply picture, with the Ras Laffan Petrochemical Complex HDPE project widely expected to slip beyond its early 2027 target even before the blast.
On the other side of the equation, the Golden Triangle Polymers complex in Texas is pressing toward an August startup with over 2 million tons/year of new HDPE capacity, the bulk of which will flow into export markets a global polyolefin cycle already mired in oversupply cannot readily absorb. The deferral of Qatari volume narrows what would otherwise have been a simultaneous dual-hemisphere supply shock, but with US export pressure building and no demand recovery in sight, the market bottom looks set to extend well into 2028.
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