SSESSMENTS.COM was told that the Coronavirus pandemic has urged a Vietnamese PS producer to adjust export offers. Following the weak demand in the export market, the producer reduced export GPPS Injection offers on FOB basis by $20/ton from last week. Similarly, the offers for GPPS Injection on CIF basis also trimmed between $10-20/ton from a week earlier. The producer stated that the demand from the export market is sluggish due to the slump in crude oil and SM prices, coupled with the concern over Coronavirus pandemic.
While for the domestic market, the producer’s offers for GPPS Injection were kept stable on a weekly comparison as the demand is quite satisfactory. The producer stated that there is still room available for price negotiation. Further added to SSESSMENTS.COM, buyers are keeping the inventory lean and prefer to make procurement on an as-needed basis.
“Following the downward movement in SM prices, most buyers expect there will be a significant reduction in the upcoming days. Market is terrible as global economic condition affected by the Coronavirus pandemic,” the producer told SSESSMENTS.COM.
