Changes in PVC prices in the Vietnam market are not followed by demand. A Vietnamese trader informed SSESSMENTS.COM on receiving import offers for PVC cargoes from an Indonesian and a Thai producer at $810/ton and $820/ton, respectively. Producers from both countries were only willing to sell at $5/ton lower from the initial offer levels, with trader only bought cargoes on small quantity this time. All import offers on LC at sight, CIF Vietnam Main Port basis. Following sentiment in the international market, the trader also increased local PVC prices by VND300,000/ton ($12/ton) compared to the offers available at the beginning of last week.
As SSESSMENTS.COM quoted from the trader, converter claims demand on the end market is still not improving yet, especially for the construction sector. One of the trader’s customers informed that usually, order for September and October would be coming two months in advance, which means that order should be coming around this week. However, this particular PVC converter has yet to receive any orders, while another converter already decided to shut their factory due to no demand and no fresh orders from the end-users. There is no supply issue reported in Vietnam market this week.
Looking ahead, the trader shared their worries to SSESSMENTS.COM that if there will be another increase in PVC price in next month. According to the trader, the uptrend in PVC prices will receive more negative feedback from the Vietnam market.
