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CommoPlast

Morning Briefing

18 March 2026

Brent: $103.42 (+ $3.21)

WTI: $96.21 (+ $2.71)

Naphtha CFR Japan: - $21

Ethylene CFR NEA: + $50

Ethylene CFR SEA: + $50

Propylene FOB Korea: Stable

Propylene CFR China: Stable

*Data represent closing prices of the previous trading day

www.commoplast.com

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Multi-year PVC spike hits Vietnam as plant outages tighten market

Vietnam’s PVC market has lurched into a supply-driven rally, with prices breaking higher as feedstock disruptions ripple through the regional chain. Fresh import offers have surged to multi-year highs, but the pace has stalled buying interest, leaving the market firm yet thin. This is no longer a margin story but a supply security issue. While downstream players remain cautious, cushioned by moderate inventories and weak pass-through ability, the near-term outlook points to further tightening.

Read the full story here:

Ethylene-based PVC rose above $1,100/ton in Vietnam on deepening feedstock squeeze

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Traders undercutting reshapes Chinese PP exports as cost pressures anchor producers

Chinese PP exports are entering a phase of sharp price divergence, as widening spreads between producer and trader offers reshape regional trade flows. While export volumes have surged, buyers are gravitating toward discounted trader cargoes, leaving higher producer offers largely untested and creating a fragmented, two-tier market. The split reflects deeper cost pressures as rising feedstock prices and supply risks are anchoring producer pricing, while traders continue to leverage lower-cost positions to drive liquidity.

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