A Vietnamese trader told SSESSMENTS.COM that PE and PP transactions are scarce this week. The number of deals concluded decreased by 50% from the previous weeks since buying sentiment is bearish. The situation forced the trader to adjust down offers for LLDPE Film C4 of South Korea origin by VND200,000/ton ($8/ton) compared to last week. Meanwhile, offers for other PE and PP grades of various origins from the trader remain stable compared to two weeks ago. The trader’s offers for localized HDPE Film and HDPE Blow Moulding from Thailand stand at VND27,000,000/ton ($1,158/ton) and VND24,000,0000/ton ($1,030/ton) on cash, FD Haiphong basis and including 10% VAT, respectively. According to the trader, another trader attempted to offer HDPE Blow Moulding of the same origin at VND1,500,000/ton ($64/ton) higher than the trader’s offers, at VND25,500,000/ton ($1,094/ton) on cash, FD Ho Chi Minh basis and including 10% VAT.
For import offers, the trader informed SSESSMENTS.COM that a South Korean producer has no fresh offers this week due to backlogs. Similarly, there are no fresh import offers from Kuwait, Qatar and Thailand yet. Like other market players, the trader is not interested in purchasing import cargoes at the moment due to concern about price sustainability. Considering the weak demand for both PE and PP, the trader foresees a gloomy outlook in the near future.
