As noted, two Vietnamese PET producers approach the domestic market with the same pricing strategy this week. A converter based in Ho Chi Minh, Vietnam informed SSESSMENTS.COM that local PET Bottle offers have slightly decreased from last week. PET Bottle offers from two local producers to converter stand between $710-720/ton, fell between $5-10/ton on a weekly comparison. Deals concluded at $710/ton with cargoes expected to arrive at the warehouse within this week. All offers on LC at sight, CIF Ho Chi Minh Port.
The converter shared with SSESSMENTS.COM that demand remains normal for their side despite the rainy season since the company does not produce water bottles. The converter produces a variety of end-products, such as PET trays, in which orders from the local and export market remain stable on the week-to-week comparison. Currently, the production rate at the converter's factory is at 80% with production volume around 1,000 tons.
