PP and LLDPE 2609 contracts on the Dalian Commodity Exchange snapped back sharply in the morning session, driven by a recovery in crude oil prices after President Donald Trump rejected Iran's latest response to his Middle East ceasefire proposal, prolonging the effective closure of the Strait of Hormuz and lifting energy sentiment across the board.
Indonesia’s polyethylene market has entered a steep corrective phase after surging to extraordinary highs in late February and March 2026 amid the Iran-Israel conflict and the closure of the Strait of Hormuz.