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Morning Briefing - 29 June 2026Vietnam's import LLDPE film market extended its correction sharply towards the end of last week, with an accelerating influx of competitively priced US-origin cargoes resetting regional benchmarks and erasing much of the premium built up during the Iran conflict. |
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MORNING BRIEFING
CommoPlast Monday, 29 June 2026
commoplast.com
MARKET MOVEMENTS
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Brent CRUDE · $/BBL |
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WTI CRUDE · $/BBL |
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71.99 |
69.23 |
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▼3.27 |
▼2.69 |
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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 · VIETNAM
US cargoes drag Vietnam LLDPE film prices lower as distributors move to cut exposure
Vietnam's import LLDPE film market extended its correction sharply towards the end of last week, with an accelerating influx of competitively priced US-origin cargoes resetting regional benchmarks and erasing much of the premium built up during the Iran conflict. The deterioration in replacement costs moved quickly through the domestic market, prompting distributors to liquidate inventories rather than absorb further valuation losses. Converters responded by pulling back sharply, limiting purchases to minimum volumes while waiting for a more convincing price floor to emerge.
Read the full story:
Vietnam LLDPE film plunges as US deep-sea supply wave triggers inventory liquidation
POLYETHYLENE · CHINA
Iran's return puts China's LDPE import floor under active threat
China's import LDPE market is pricing in Iran's imminent return before a single official price list has been issued, with competing origins already forced into aggressive discounting as buyers deliberately run inventories lean in anticipation of a lower entry point. Transacted levels have touched a key threshold, with counter-bids circulating below that level as buyers probe for concessions rather than commit to prevailing offers.
The critical inflection will come when Iranian suppliers transition from collecting bids to issuing formal price lists alongside first physical shipments, an event the market widely expects to cement three digit pricing as a reference rather than a temporary anomaly. Until then, restocking remains on hold and the directional bias is unambiguously lower.
Read full story:
Iran’s supply shadow looms over China’s LDPE import market as price floor buckles toward $1,000/ton
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