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Morning Briefing - 04 June 2026Indonesia's proposed anti-dumping duties on imported homo-PP could reshape one of Southeast Asia's biggest polymer markets. |
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CommoPlast
Morning Briefing
04 June 2026
Brent: $97.81 (+ $1.81)
WTI: $96.02 (+ $2.26)
Naphtha CFR Japan: á
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: â
Propylene CFR China: â
*Data represent closing prices of the previous trading day
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Imported PP faces new headwinds in Indonesia
Indonesia's proposed anti-dumping duties on imported homo-PP could reshape one of Southeast Asia's biggest polymer markets. KADI's recommendation, covering suppliers across eight countries, signals a shift away from years of import-led price competition after domestic producers lost market share, saw lower operating rates and suffered margin erosion despite growing local demand. Attention now turns to the government's final ruling, with buyers and suppliers expected to reassess procurement strategies and pricing exposure.
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Chinese PVC slips below $800/ton as demand remains lacklustre
Chinese PVC sellers have been forced to push export offers to Malaysia below the $800/ton threshold as weak regional demand and abundant supply continue to erode pricing power. The move underscores the depth of the market's imbalance, with buyers remaining firmly in hand-to-mouth mode despite increasingly attractive offers.
Yet current prices may still overstate the market's downside potential. Freight costs remain elevated relative to underlying PVC fundamentals, providing temporary support to landed values.
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