A Vietnamese PS producer informed SSESSMENTS.COM that this week, the company received better responses from the export market following the uptrend in China market and SM prices last week. In the export market, the producer adjusted up low-end export GPPS Injection offers by $10/ton compared to last week’s level and stood at $840/ton on LC at sight, FOB Vietnam basis. Deals for GPPS Injection cargoes to the Southeast Asia market concluded at $860/ton on LC at sight, CIF Southeast Asia Main Port basis. Buyers in Myanmar and Thailand even asking for extra quantities in anticipation of higher prices if the uptrend in China market and SM prices continue to persist and affecting the Southeast Asia market. While to China, deals for GPPS Injection achieved at $30-40/ton higher compared to last week’s deal level.
In the domestic market, offers for GPPS Injection from the producer remain unchanged from last week. However, deals for some regular buyers concluded at $20/ton lower than the initial offers at $880/ton on cash, FD Vietnam basis as market talks have it that import Thai and Korean GPPS Injection cargoes are available at $840/ton on LC at sight, CIF Vietnam Main Port basis. Demand-wise, sales from the producer’s end are considered healthy and production is still running at 90% from normal capacity. The producer opined to SSESSMENTS.COM that the outlook for PS prices will depend on SM price movement onward.
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