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MORNING BRIEFING

CommoPlast                 Friday, 02 October 2026

                                                                                                                        commoplast.com

MARKET MOVEMENT

Closing prices, previous trading day. Monomer price directions will not be published during the Golden Week holiday.                  

TODAY’S DEVELOPMENTS

POLYETHYLENE · MALAYSIA

Malaysian producer pushes October hikes well above market expectations

Malaysia's PE rally is hitting resistance after a major domestic producer opened October with sharper-than-expected hikes, only for buyers to refuse to chase the market. Many converters had already stocked up ahead of the increase, and expectations of looser supply through in the fourth quarter, on both incoming imports and improving domestic production, have left buyers to manage purchasing appetite.

Trading houses responded by cutting HDPE and LDPE film prices well below the producer's list, and the reaction was immediate, with at least one trader clearing through its available allocation at the lower levels.

Buyers, in other words, haven't stepped back from the market, only from the producer's asking price. With supply conditions easing, where October's price floor ultimately settles still looks far from resolved.

POLYMERS · CHINA

China's polyolefin offers hold firm into Golden Week despite inventory overhang

China's polyolefin suppliers headed into the Golden Week break with PP and PE inventories at Sinopec and CNPC running above the five-year seasonal average, yet raised spot offers anyway rather than discounting into the close. The firmness traces to a structural shift in how the holiday functions: with trucks and logistics still operating through the break, converters are holding unusually lean stocks and material is moving down the chain rather than piling up at the plant gate, muting the usual pre-holiday urgency to liquidate.

Historical pattern still favours sellers in the near term, with meaningful post-holiday discounting typically only emerging in the third week after reopening. That timing lines up with the market's real test, as a wave of new PE and PP capacity is set to come online in the second half of October.

Expect offers to stay firm through the early return, with the more decisive test coming once fresh cargoes from new plants start competing for buyers into November.

Read full story:

China PP, PE offers climb despite swollen pre-holiday stocks

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