SSESSMENTS.COM was told that the change in SM prices has urged a Vietnamese PS producer to adjust local and export offers. As reported, the producer’s July shipment offers for GPPS Injection on FOB basis had increased by $30/ton as well as local offers for the same material were hiked between $10-20/ton. All compared to last week’s levels. The producer further explained that the pricing decision for both local and export markets was implemented as a reaction to the uptrend in SM prices.
So far, the response from the China market is quite satisfactory; almost 200 tons of allocation sold to Chinese traders alone, the producer told SSESSMENTS.COM. Likely, this is because of the limited supply in the China market; hence, most Chinese traders secure lots of cargoes from import. To the Southeast Asia market, the producer allocates as much as 300-500 tons for July shipment and only concluded deals with some regular customers. In Indonesia and the Philippines, the market has yet to recover from Coronavirus pandemic impact, while the producer rarely receives orders from Thailand or Malaysia markets. Whereas in the domestic market, demand is still ongoing, and the producer provides around 1,000-1,500 tons of allocation for June delivery.
