CommoPlast

Morning Briefing

13 March 2026

Brent: $100.46 (+ $8.48)

WTI: $95.73 (+ $8.48)

Naphtha CFR Japan: + $102

Ethylene CFR NEA: + $30

Ethylene CFR SEA: + $30

Propylene FOB Korea: Stable

Propylene CFR China: Stable

*Data represent closing prices of the previous trading day

www.commoplast.com

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China PVC rallies as feedstock risks tighten regional supply outlook

After a subdued start to March, Chinese PVC suppliers turned sharply more aggressive this week, rolling out multiple intraday price revisions as tightening availability and regulatory adjustments began to reshape market dynamics.

Data from CommoPlast showed spot carbide-based PVC offers from a major Chinese trading house being revised three times within a single trading session, culminating in a cumulative increase of $95/ton — a pace of adjustment rarely seen outside periods of acute supply stress.

The shift comes as crude flows through the Strait of Hormuz face mounting disruption, placing the Asian petrochemical chain under growing feedstock pressure. Market participants increasingly warn that prolonged conflict around Iran could force some plants to curb or halt operations if upstream supply constraints intensify.

Read more: Feedstock starvation and margin inversion cripple Chinese ethylene-based PVC operations

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China’s domestic PP, PE markets rose sharply on supply fears; buyers retreated to sidelines

The domestic PP and PE market in China surged between CNY 550 – 800/ton ($80 – 116/ton) on Thursday, 12 March 2026 driven by a sharp rise in futures contracts on the Dalian Commodity Exchange and concerns over the near-term supply outlook.

CommoPlast reported earlier that several integrated producers issued stark warnings regarding impending supply deficits. Upstream refinery run cuts are being actively implemented to prioritise crude and refined fuel availability for domestic consumption, a strategic pivot that threatens to severely curtail polymer output in the coming weeks.

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