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Morning Briefing - 29 September 2026China's import PE market is diverging by grade this week, with LLDPE film holding firm on peak agricultural film demand, while HDPE and LDPE film soften as converters defer bookings ahead of the holiday. |
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MORNING BRIEFING
CommoPlast Tuesday, 29 September 2026
commoplast.com
MARKET MOVEMENT
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Brent CRUDE · $/BBL |
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WTI CRUDE · $/BBL |
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105.28 |
92.60 |
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▲0.96 |
▲0.19 |
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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 · THAILAND
Bangkok imposes three-year safeguard duty on PP imports, targeting China's dominant share
Thailand has approved a three-year safeguard duty on imported PP, effective 28 September, after finding that a sudden import surge caused serious injury to domestic producers. The duty starts at 7.78% before settling into a permanent rate that barely steps down over the term, signalling sustained protection over a three-year period. China, which supplied over a third of Thailand's PP imports last year and alone met roughly a quarter of total domestic demand, sits most exposed, with no other single origin able to offset a Chinese pullback.
Other developing-country origins are exempted, but some of those markets face their own tight supply, limiting how much relief they can realistically offer. With regional feedstock disruption already straining supply, the fourth quarter will be the real test of which path the safeguard pushes the market toward.
Read the full story:
Thailand shields domestic PP producers with a three-year safeguard duty against imported material
POLYETHYLENE · CHINA
China's import PE market splits by grade as agricultural demand props up LLDPE into Golden Week
China's import PE market is diverging by grade this week, with LLDPE film holding firm on peak agricultural film demand, while HDPE and LDPE film soften as converters defer bookings ahead of the holiday. Futures found support from crude's rebound after Washington rejected an Iranian peace proposal and from optimism over US-China tariff cuts, but that cost-push momentum has not translated into broader spot market restocking.
Saudi and US-origin LLDPE film both firmed on bonded and seaborne offers, while HDPE and LDPE saw steeper cuts across bonded storage and seaborne cargoes as sellers chased liquidity ahead of the holiday. The split highlights how seasonal demand is cushioning one grade even as general converters stay unwilling to carry inventory risk into the break.
With domestic plants running through the holiday, the key signal to watch is whether post-holiday restocking pressures spot levels lower or firm feedstock costs hold the current floor.
Read full story:
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