Polyethylene Market Brief (March 12, 2026)

I. Key Focus

1. Cost Side: Shipping disruptions in the Strait of Hormuz continue to increase supply risk. The International Energy Agency has agreed to release 400 million barrels from strategic reserves, but the release will be implemented in stages and no specific plan has been announced yet. International crude oil prices rose. The NYMEX April crude oil futures contract settled at USD 87.25/barrel, up USD 3.80/barrel (+4.55%). The ICE Brent May crude futures contract settled at USD 91.98/barrel, up USD 4.18/barrel (+4.76%).

2. Current Shutdown Units:
At present, shutdowns involve 19 polyethylene production units, with Maoming Petrochemical newly added to the maintenance schedule.

3. Market Review (Previous Day):
On the previous day, domestic polyethylene market prices mostly declined, with decreases ranging from RMB 201–449/ton. As geopolitical tensions intensified, the room for price concessions in the market narrowed, while lower-priced offers saw better trading activity.

Core Logic: Slight cost support, with the market showing a relatively strong trend.

II. Price Table

III. Market Outlook

Short-term geopolitical conflicts persist, providing cost support for rising crude oil prices; downstream factory operating rates are increasing, with many cautiously purchasing on dips. Slight cost support contributes to a slightly bullish market trend. (For reference only)

IV. Data Calendar