Morning Briefing - 20 July 2026

MORNING BRIEFING

CommoPlast                        Monday, 20 July 2026

                                                                                                                             commoplast.com

MARKET MOVEMENTS

Closing prices, previous trading day. Monomers show direction only.

TODAY’S DEVELOPMENTS

POLYETHYLENE· CHINA

After a two-week surge, China's PE rally cools

China's PE rally eased into the weekend as sellers offered selective discounts to move volume, breaking a two-week run of aggressive gains across LLDPE, HDPE, and LDPE film. Most traders read the pullback as tactical rather than a turning point, with combined PP and PE stockpiles at major producers fell below a key level for the first time in five months and import cargoes not due to land for another few weeks. Escalating US-Iran tensions are reinforcing the domestic bias, pushing buyers toward local material as Middle Eastern cargoes face growing supply risk, while the resulting squeeze is starting to pull Southeast Asian offers higher as export volumes redirect toward China.

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Chinese PE rally pauses after two-week advance; outlook stays constructive

IMPORT DUTY ·  INDIA

India moves to cut Oman polymer tariffs under trade pact

India has formalised a cut in tariffs on a range of Oman-origin polymer imports, with the commerce ministry confirming quota terms under the bilateral trade agreement now in force. The new structure phases in reduced duties on PE across numerous tariff lines, alongside a significant annual allowance for PP, though volumes above quota still face the standard levy. The move comes as New Delhi separately weighs anti-dumping action against Saudi and UAE-origin LLDPE, positioning Oman-origin cargoes for a modest competitiveness boost even though its trade volumes remain small next to its larger Gulf neighbours.

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India cuts tariffs on Omani polymer imports under new trade pact

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