|
|
Morning Briefing - 04 Mar. 2026A major Malaysian producer withdrew its domestic offers over the weekend while an Indian producer pushed through two back-to-back price hikes. |
|
CommoPlast
Morning Briefing
04 March 2026
Brent: $81.40 (+ $3.66)
WTI: $74.56 (+ $3.33)
Naphtha CFR Japan: (+ $22)
Ethylene CFR NEA: (+ $30)
Ethylene CFR SEA: (+ $20)
Propylene FOB Korea: (+ $10)
Propylene CFR China: (+ $10)
*Data represent closing prices of the previous trading day
……………………………………………………………….
Malaysian major suspends offers as upstream spike reshapes outlook
A major Malaysian producer withdrew its domestic offers over the weekend, just days after issuing a fresh March price list, abruptly shifting the market into defensive mode. The retreat signals a reassessment of cost pressures and supply risks, with participants bracing for a revised list early next week. Buyers are closely tracking availability as uncertainty builds across the chain.
The initial announcement last week carried increases of MYR 50-130/ton, already reflecting firmer feedstock fundamentals. Sentiment has since turned more decisively bullish. Feedstock continuity risks would ensue as the major producer source their naphtha from the Middle Eastern region. Naphtha has risen by $101/ton CFR Japan terms since the start of the week, which provides further upside potential for the polyolefin market.
.……………………………………………………………….
Revision of offers for Indian local market
Indian polymer markets opened the week decisively higher as a major domestic producer pushed through two back-to-back price hikes, citing tightening availability and rising supply disruption risks. The increases came on the back of compounded support amid the upcoming shutdown at GAIL (India) Limited and ongoing disruption linked to the closure of the Strait of Hormuz, both of which have clouded flows. Cumulatively, LLDPE and HDPE climbed by INR 8,500/ton, LDPE by INR 8,000/ton, and homo-PP by INR 6,000/ton.
_________________________________________________________________
Follow us on CommoPlast Official Telegram Channel for more: https://t.me/commoplast
Country
Singapore
About CommoPlast Asia Sdn Bhd
Your empowering market insight site.
