Polymer spreads weakened WoW as a 12% increase in naphtha prices outpaced downstream product-price gains, squeezing margins across most olefin chains. Among polymers, LDPE-naphtha was the best performer, declining only 8% WoW to US$585/t, supported by resilient packaging-film demand and relatively tight regional polyethylene supply. In contrast, PS spread was the worst performer, plunging 36% WoW to US$129/t as a 10% rise in benzene prices far exceeded the 1% increase in GPPS prices, sharply compressing styrenics margins. Aromatics showed mixed performance, while the integrated PET spread fell 7% WoW to US$188/t as higher PTA costs weighed on profitability.
