Vietnamese market saw price adjustment from foreign producers for import PE and PP cargoes, although demand remains subdued. A converter informed SSESSMENTS.COM that latest PE offers from the leading Saudi polyolefins producer emerged with an upward adjustment compared to last week’s offers. HDPE Film from the producer offered at $950/ton after recording $20/ton gains, while LLDPE Film C4 increased $30/ton and now at $940/ton. Meanwhile, the Indian PE producer kept August shipment offers stable from last week. Other than that, import HDPE Film and LLDPE Film C4 cargoes of US origin are available at $930/ton and $920/ton, respectively, for direct shipment from the U.S, which according to the converter are too high compared to offers from other foreign suppliers.
For PP cargoes, SSESSMENTS.COM noted that fresh offers to Vietnam market are limited this week. The converter only received offers for PP Homo Raffia from one of the Indian producers at $950/ton. Meanwhile, offers from a South Korean producer are absent this time. All import offers on LC at sight, CIF Vietnam Main Port basis.
Pertaining to the Vietnam market situation, the converter concluded that activities remain quiet. Buyers are not eager to buy new cargoes because the demand for finished products is very slow. The converter also shared to SSESSMENTS.COM regarding market talks in which most manufacturers are running below 100% because the market can only absorb 50% of the usual volume of finished products. Therefore, the converter opined that most converters will not buy resins for this week and next week as they would like to see how the market will develop. After that, converters will decide whether to buy more or continue to wait and see depending on the demand.
