- Import PE offers recorded in a mixed direction during April
- Materials delivery was disrupted due to Coronavirus lockdown
- PE prices predicted to remain on a downtrend
In the domestic market, market sources revealed to SSESSMENTS.COM on several deals concluded for localized PE cargoes during April. On the week commencing April 13, some converters managed to conclude a deal for localized Saudi LLDPE Film C4 cargoes at VND22,000,000/ton ($936/ton), which was VND1,000,000/ton ($42.5/ton) lower from the initial offer level available in a week earlier. While for localized South Korean LLDPE Film C4 cargoes, done deals were achieved at VND21,200,000/ton ($902/ton). Other than that, done deal for localized Saudi LLDPE Film C4 cargoes at VND20,000,000/ton ($851/ton) was also recorded in the final week of the month, which was VND500,000/ton ($21/ton) lower from the previous deals. All transactions were on cash, FD Vietnam basis, and including 10% VAT.
From the import market, the offers for Saudi HDPE Film to Vietnam were trimmed between $60-100/ton in the first week of April. Despite the hefty reduction, sources stated to SSESSMENTS.COM that deals were concluded at $20/ton lower from the initial offer level for shipment from Malaysia and Singapore. While for Southeast Asian cargoes, the offers were also down by $30/ton. Moving to the second week, the offers for Saudi HDPE Film dropped between $20-30/ton. However, in the upcoming week, the offers for HDPE Film of various origins were captured stable to firmer by $10-50/ton following the uptrend in the China market. All on a weekly comparison. In the fourth week of the month, a US PE producer offered HDPE Film at $790/ton on LC at sight, EXW Vietnam basis and customers were submitting bids at $40/ton lower from the initial offer level, however, there was no response from the supplier. Meanwhile, a Saudi producer applied a hefty adjustment on HDPE Film offers by $100/ton lower on a monthly comparison. By the final week of the month, May shipment offers for HDPE Film from the leading Saudi polyolefins producer increased by $70/ton compared to the offer level in early April. While on a weekly comparison, the offers increased between $20-60/ton as supported by tight supply from the producer’s end. For HDPE Yarn, the leading Indian petrochemical producer also adjusted up offers by $20/ton on a weekly comparison.
For LDPE Film and LLDPE Film C4, the offers for Southeast Asian LDPE Film cargoes to Vietnam market decreased by $50/ton in the first week of April compared to March’s level while LLDPE Film C4 offers of the same origin were absent. Meanwhile, Saudi LLDPE Film C4 cargoes were concluded at $20/ton lower from the initial offer level, SSESSMENTS.COM was told. Moving to the second week, the offers for Saudi LLDPE Film C4 decreased by $30/ton on a weekly comparison. Despite the adjustment, buyers preferred to purchase Singaporean cargoes as the producer was willing to accept the TT payment term. Other sources revealed that customers were submitting bids for Saudi LLDPE Film C4 at $10/ton lower than the initial level, considering the previous deal level, however, the bids were rejected. Following the uptrend in the China market, the offers for LDPE Film and LLDPE Film C4 of various origins were recorded stable to firmer between $10-50/ton in the third week of April, changes were on a weekly basis. Moving to the week commencing April 20, a Saudi producer applied a hefty reduction of $100/ton for LLDPE Film C4 on the monthly comparison. While for Malaysian LDPE Film and Indonesian LLDPE Film C4 cargoes, the offers were kept stable from the previous week. In the final week of April, the leading Saudi polyolefins producer announced May shipment offers for LLDPE Film C4 with a decrease of $10/ton compared to the offers in early April. While on a weekly comparison, the offers were recorded stable. Sources stated that the firm offers were supported by the tight supply from the producer’s end. For LDPE Film, May shipment offers from the leading Saudi polyolefins producer recorded at $860/ton on LC at sight, CIF Vietnam Main Port basis, and no price comparison available.
Owing to several factors, such as sufficient inventory on hand, slow sales for finished products, as well as the expectation for a lower price, demand for PE in Vietnam was sluggish during April. Most buyers preferred to delay the procurement activities and opted for the wait-and-see stance due to market uncertainties amid the Coronavirus pandemic. Moreover, citizens were obliged to stay at home as the Vietnamese government implemented a nationwide lockdown from April 1 until April 22, with the extended lockdown in some areas with a high risk of infections. During the strict social restrictions, sources stated that healthy demand was recorded for food packaging and home care products. Sources also added to SSESSMENTS.COM that the strict social restriction disrupted materials delivery as several cities were closed during the period.
Looking into May, the majority of Vietnamese market players opined to SSESSMENTS.COM that despite lockdown has been lifted, PE prices will remain on a downtrend as the overall demand is still generally weak. However, some sources expect to see a slight demand improvement in the foreseeable future as schools will be open again on May 11.
Click below to view related stories and content on Vietnam PE:
WeeklySSESSMENTS: Vietnam PE Prices W/C March 30
WeeklySSESSMENTS: Vietnam PE Prices W/C April 6
WeeklySSESSMENTS: Vietnam PE Prices W/C April 13
WeeklySSESSMENTS: Vietnam PE Prices W/C April 20
WeeklySSESSMENTS: Vietnam PE Prices W/C April 27
Transactions for localized PE between April 1 to April 3, FD Haiphong basis (including 10% VAT in VND term, excluding VAT in USD terms)
| Origin | Product | Transaction Type | Offers (VND/ton) | Equivalent in USD/ton |
|---|
| Saudi Arabia | HDPE Film | Purchased | 21,800,000 | 843 |
| South Korea | LLDPE Film C4 | Purchased | 21,200,000 | 820 |
Transactions for import PE between April 1 to April 3 on LC at sight, CIF Vietnam Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Middle East | HDPE Blow Moulding | Offer Given | 740 |
| Middle East | HDPE Blow Moulding | Bid Received | 700 |
| Middle East | HDPE Film | Offer Received | 770 |
| Middle East | HDPE Film | Bid Received | 700 |
| Middle East | HDPE Film | Offer Given | 730*-750* |
| North America | HDPE Film | Offer Received | 730* |
| Southeast Asia | HDPE Film | Offer Given | 840 |
| Middle East | LDPE Film | Offer Given | 860 |
| Middle East | LDPE Film | Bid Received | 850 |
| Middle East | LDPE Film | Purchased | 930 |
| Southeast Asia | LDPE Film | Offer Given | 980 |
| Middle East | LLDPE Film C4 | Offer Given | 790 |
| Middle East | LLDPE Film C4 | Offer Received | 790* |
| Middle East | LLDPE Film C4 | Sold | 740*-770 |
| Middle East | LLDPE Film C4 | Purchased | 770 |
| North America | LLDPE Film C4 | Offer Given | 730-740 |
Description: *Shipped from Malaysia and Singapore
Transactions for import PE between April 6 to April 10 on LC at sight, CIF Vietnam Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Middle East | HDPE Blow Moulding | Offer Given | 710 |
| Middle East | HDPE Blow Moulding | Bid Received | 680 |
| North America | HDPE Blow Moulding | Offer Given | 680-690 |
| North America | HDPE Blow Moulding | Offer Received | 690-700 |
| North America | HDPE Blow Moulding | Purchased | 690-700 |
| Indian Subcontinent | HDPE Film | Offer Given | 750 |
| Middle East | HDPE Film | Offer Given | 710-720 |
| Middle East | HDPE Film | Offer Received | 700-770** |
| Middle East | HDPE Film | Sold | 700 |
| Middle East | HDPE Film | Purchased | 700-710** |
| North America | HDPE Film | Offer Given | 700 |
| North America | HDPE Film | Bid Received | 670-680 |
| North America | HDPE Film | Offer Received | 700****-720 |
| Middle East | HDPE Pipe Black (100) | Offer Given | 880 |
| Indian Subcontinent | HDPE Yarn | Offer Given | 750 |
| Middle East | LDPE Film | Bid Received | 820 |
| Middle East | LDPE Film | Sold | 820 |
| Indian Subcontinent | LLDPE Film C4 | Offer Given | 720-730 |
| Middle East | LLDPE Film C4 | Offer Received | 740**-780 |
| Middle East | LLDPE Film C4 | Bid Given | 770 |
| Middle East | LLDPE Film C4 | Purchased | 740-750** |
| Southeast Asia | LLDPE Film C4 | Purchased | 770* |
| North America | LLDPE Film C4 | Offer Given | 700 |
| North America | LLDPE Film C4 | Bid Received | 670-680 |
| North America | LLDPE Film C4 | Offer Received | 710-720 |
| North America | LLDPE Film C4 | Purchased | 710-720 |
| North America | mLLDPE C6 | Offer Received | 1,020*** |
| Southeast Asia | mLLDPE C6 | Offer Received | 1,020 |
Description: *Offers on TT payment term **Shipment from Malaysia and Singapore ***Shipment from Singapore ****Shipment from Malaysia
Transactions for localized PE between April 13 to April 17, FD basis (including 10% VAT in VND term, excluding VAT in USD terms)
| Origin | Product | Transaction Type | Offers (VND/ton) | Equivalent in USD/ton | Payment Term | Delivery Location |
|---|
| Thailand | HDPE Blow Moulding | Purchased | 25,000,000 | 967 | 30 Days Credit Term | Ho Chi Minh |
| Thailand | HDPE Blow Moulding | Purchased | 21,200,000 | 820 | Cash In Advance | Ho Chi Minh |
| Saudi | LLDPE Film C4 | Purchased | 22,000,000 | 851 | Cash In Advance | Ho Chi Minh |
| South Korea | LLDPE Film C4 | Purchased | 21,200,000 | 820 | Cash In Advance | Haiphong |
Transactions for import PE between April 13 to April 17 on LC at sight, CIF Vietnam Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Middle East | HDPE Blow Moulding | Offer Received | 820 |
| Middle East | HDPE Film | Offer Received | 710-750 |
| Southeast Asia | HDPE Film | Offer Received | 760*-780* |
| Southeast Asia | HDPE Film | Offer Given | 820* |
| North America | HDPE Film | Offer Received | 690**-730 |
| North America | HDPE Film | Bid Received | 680-700 |
| North America | HDPE Film | Sell Idea | 710 |
| Indian Subcontinent | HDPE Yarn | Offer Given | 750 |
| Southeast Asia | HDPE Yarn | Offer Received | 790 |
| Indian Subcontinent | LDPE Film | Offer Given | 810 |
| Indian Subcontinent | LDPE Film | Offer Received | 840-860 |
| Southeast Asia | LDPE Film | Offer Received | 850*-900 |
| Southeast Asia | LDPE Film | Offer Given | 840-910* |
| Southeast Asia | LDPE Film | Sold | 840-850 |
| Indian Subcontinent | LLDPE Film C4 | Offer Given | 730 |
| Indian Subcontinent | LLDPE Film C4 | Offer Received | 730-740 |
| Indian Subcontinent | LLDPE Film C4 | Sell Idea | 720 |
| Middle East | LLDPE Film C4 | Offer Received | 750-760 |
| North America | LLDPE Film C4 | Sold | 710 |
| Southeast Asia | LLDPE Film C4 | Offer Received | 750* |
Description: *Offers for May shipment **Shipment from Port Klang, Malaysia
Transactions for import PE between April 20 to April 24 on LC at sight, CIF Vietnam Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| USA | HDPE Blow Moulding | Offer Given | 690-700 |
| USA | HDPE Blow Moulding | Bid Received | 620-650 |
| Kuwait | HDPE Film | Offer Received | 760 |
| Saudi | HDPE Film | Offer Received | 720-740** |
| Saudi | HDPE Film | Buy Idea | 600 |
| USA | HDPE Film | Offer Given | 700-710 |
| USA | HDPE Film | Offer Received | 740-790* |
| USA | HDPE Film | Sell Idea | 690-700 |
| USA | HDPE Film | Bid Given | 750* |
| Thailand | HDPE Pipe (PE 100) | Purchased | 860 |
| Malaysia | LDPE Film | Offer Received | 850-860 |
| USA | LDPE Film | Offer Received | 850 |
| Indonesia | LLDPE Film C4 | Offer Given | 760 |
| Saudi | LLDPE Film C4 | Offer Received | 700-730** |
| South Korea | LLDPE Film C4 | Offer Received | 760 |
| USA | LLDPE Film C4 | Offer Given | 700-710 |
| USA | LLDPE Film C4 | Sell Idea | 690-700 |
Description: *Offers on EXW basis **Offers on CIP basis
Transactions for local PE between April 27 to April 30 on cash, FD Vietnam basis (including 10% VAT in VND term, excluding VAT in USD term)
| Origin | Product | Transaction Type | Offers (VND/ton) | Equivalent in USD/ton |
|---|
| Saudi Arabia | LLDPE Film C4 | Purchased | 20,000,000 | 774 |
Transactions for import PE between April 27 to April 30 on LC at sight, CIF Vietnam Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Central Asia | HDPE Film | Purchased | 665 |
| Middle East | HDPE Film | Bid Given | 680 |
| Middle East | HDPE Film | Offer Received | 740-770* |
| Middle East | HDPE Film | Price List | 740 |
| North America | HDPE Film | Offer Given | 700-710 |
| North America | HDPE Film | Offer Received | 710 |
| North America | HDPE Film | Purchased | 680 |
| Southeast Asia | HDPE Pipe (PE 100) | Offer Received | 930 |
| Southeast Asia | HDPE Pipe (PE 100) | Buy Idea | 820-830 |
| Indian Subcontinent | HDPE Yarn | Offer Received | 740 |
| Indian Subcontinent | HDPE Yarn | Buy Idea | 720 |
| Middle East | LDPE Film | Offer Given | 840 |
| Middle East | LDPE Film | Bid Received | 820 |
| Middle East | LDPE Film | Offer Received | 860* |
| Middle East | LDPE Film | Sell Idea | 840 |
| Indian Subcontinent | LLDPE Film C4 | Offer Received | 750 |
| Middle East | LLDPE Film C4 | Buy Idea | 700 |
| Middle East | LLDPE Film C4 | Offer Received | 710-750 |
| Middle East | LLDPE Film C4 | Price List | 740 |
| North America | LLDPE Film C4 | Offer Received | 690 |
| North America | mLLDPE C6 | Offer Received | 1,010 |
| Southeast Asia | mLLDPE C6 | Offer Received | 1,010 |
Description: *Shipment from Singapore/Malaysia
Tags: Asia Pacific,English,Monthly,PE,SEA,Vietnam
Published on May 5, 2020 4:15 PM (GMT+8)
Last Updated on July 7, 2020 6:19 PM (GMT+8)
