Polymer spreads rebounded strongly WoW as a 7% decline in naphtha prices more than offset gains in downstream polymer prices. PP-naphtha spread outperformed others, surging 48% WoW to US$379/t, followed by LLDPE-naphtha, which gained 40% WoW, supported by lower feedstock costs and resilient packaging demand. In contrast, PVC-ethylene was the weakest performer, rising only 4% WoW to US$329/t, as PVC prices increased just 1% WoW amid soft construction demand across Asia. Meanwhile, integrated PET spread rose 30% WoW to a two-month high of US$245/t, driven by lower feedstock costs and production cuts in China, further supporting margin recovery across the petrochemical chain.
