Achieved satisfactory sales, a Vietnamese PS producer revealed to SSESSMENTS.COM the difference in response from China and Southeast Asia market. At the moment, the producer is no longer offering cargoes to both local and export market as the allocation for June delivery and July shipment had sold out. To the local market, the producer managed to sell 1,500 tons of GPPS Injection for June delivery with the deals concluded between $920-950/ton on cash, FD Vietnam basis, and excluding 10% VAT depending on the customers’ relationship with the producer and the number of purchases. Demand from the local market has slightly improved as buyers believed the uptrend in crude oil, monomer, and PS prices will sustain. As such, buyers started to purchase more volume.
Due to the same reason, the producer also received a satisfactory response from Chinese customers and a total of 2,000 tons of GPPS Injection were sold for July shipment. In contrast, responses from buyers in Indonesia and the Philippines were poor citing sluggish demand for the finished products. Hence, there were only around 300-500 tons were sold to the Southeast Asia market. If there is a serious regular customer, the producer is willing to sell more cargoes that were previously not allocated for July shipment with sell idea at $920/ton on LC at sight, FOB Vietnam basis. Speaking of August shipment pricing, the producer stated to SSESSMENTS.COM that the company will follow the market trend.
