Market sources in Southeast Asia revealed to SSESMENTS.COM that a regional trader has sold Indonesian PVC cargoes to the Vietnam market below a new threshold level, rapidly moving to the next psychological price mark. In the previous week, the trader managed to sell the cargoes to Vietnamese traders at $780/ton on LC at sight, CIF Vietnam Main Port basis, or $40/ton lower than the initial offer level from the leading Indonesian PVC producer.
This week, the trader voiced out their sell idea between $740-750/ton with the same payment and delivery terms, depending on purchasing quantity. Additionally, the trader stated that the producer might be willing to sell at $720/ton the lowest for big quantity. However, the trader revealed to SSESSMENTS.COM that the number of inquiries received has been declining significantly as most customers prefer to stay on the sidelines amid market uncertainties. “This week, we think that there would not be many customers willing to proceed with purchases and not many willing to take big volume either,” the trader said.
For the outlook, the trader believes that PVC prices in the region might break below $700/ton-level considering the current ethylene prices.
