Morning Briefing - 06 Mar. 2026
CommoPlast
Morning Briefing
06 March 2026
Brent: $81.01 (+ $6.35)
WTI: $85.41 (+ $4.01)
Naphtha CFR Japan: - $2
Ethylene CFR NEA: + $50
Ethylene CFR SEA: + $50
Propylene FOB Korea: + $10
Propylene CFR China: + $10
*Data represent closing prices of the previous trading day
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Force majeure wave disrupts Asia’s petrochemical supply chain
Across the Asian petrochemical industry, a growing number of companies have either reduced operating rates or declared force majeure on supply, further fuelling concerns over the regional polymer availability. Several producers in Indonesia, Qatar, Saudi Arabia and China are affected, while upstream disruptions at feedstock hubs in South Korea, Singapore and Qatar, including naphtha cracker operations and LNG production, raise the risk of tighter supply if constraints persist.
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Chinese PP exports hit 16-month high as Asian petrochemicals rattled
China’s PP export market has broken decisively higher, pushing past $1,000/ton FOB as geopolitical disruption reshapes regional supply flows. The rally reflects less a demand recovery than a supply shock, with the effective blockade of the Strait of Hormuz constraining Middle Eastern shipments and forcing Asian buyers to seek replacement cargoes. Export offers have climbed as suppliers ration volumes amid extreme volatility and growing feedstock uncertainty at home. If disruptions to energy and polymer flows persist, China could assume a more central role in balancing Asia’s PP supply in the months ahead.
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