[Market Summary]
On July 27, most domestic commodity futures opened lower, with plastics chain products under broad pressure. The LLDPE main contract dropped more than 3%, trading at 7,763 CNY/ton; PVC fell 2% to 4,535 CNY/ton; styrene slipped over 5%. Upstream, crude oil and fuel oil futures fell more than 6%, liquefied petroleum gas down over 5% — the main drag on the plastics and chemicals sector.
[Crude Oil Market]
Global oil prices saw dramatic swings recently. Brent crude broke above $100/barrel on July 23 with a single-day gain of 7.04%, but reversed sharply after the weekend. On July 27, Brent opened at $96.78/barrel and WTI retreated to $89.31/barrel, down roughly 4% overnight. The rapid shift from breaking $100 to a sharp decline directly weighed on downstream chemical futures.
[Market Outlook]
Monitoring data shows that as of the 5th working day, the crude oil price change rate reached 17.89%, with domestic gasoline and diesel prices expected to rise approximately 790 CNY/ton on July 31. In the short term, heightened oil price volatility will keep plastics and chemical futures in a high-volatility pattern. Market participants should monitor macro sentiment and cost-side guidance.
[Sources] CLS Securities, NBD News, Longzhong Information | July 27, 2026
