Morning Briefing - 11 Feb. 2026
CommoPlast
Morning Briefing
11 February 2026
Brent: $68.80 (- $0.24)
WTI: $63.96 (- $0.40)
Naphtha CFR Japan: +$15
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: Stable
Propylene CFR China: Stable
*Data represent closing prices of the previous trading day
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Malaysian LDPE market may tighten amid local production disruptions
Malaysian LDPE supply is set to tighten in the near term as routine maintenance shutdowns at domestic plants constrain availability, lending support to firmer market sentiment.
Several flexible packaging converters reported difficulties securing prompt LDPE film cargoes, even within the distribution market, pointing to a thinning supply buffer. This has fuelled expectations that LDPE could emerge as the pace-setter for price increases in Malaysia’s PE complex in March.
However, upside potential remains capped by easing downstream demand as festive restocking draws to a close. With consumption momentum fading, buyers have largely resisted panic purchasing, opting instead for a measured procurement approach despite the emerging supply tightness.
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Chinese PE market entered corrections ahead of the Lunar New Year holiday
China’s PE market extended its corrective slide into a second week ahead of the Lunar New Year, as sentiment continued to erode following an earlier rally.
After surging from mid-December 2025 to late January 2026, prices began retreating at the start of February, with LDPE film leading the downturn. Spot LDPE film values have fallen by an average of CNY 225/ton ($33/ton), pressured by weaker futures and intensifying pre-holiday caution.
Despite the pullback, domestic producers remain cautiously constructive on the post-holiday outlook. Many expect demand to rebound once converters restore operating rates, potentially paving the way for a renewed upward trajectory after the festive lull.
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