As stated to SSESSMENTS.COM, a Vietnamese PS producer has sold out June delivery and July shipment allocation. As informed, the producer has sold 1,500 tons of GPPS Injection cargoes for June delivery in the domestic market, and 2,000 tons for July shipment sold to China market. This week, priority will be given to its regular customers to secure their cargoes as the producer is running low on allocations. As informed, the producer’s offers for GPPS Injection are available at $950/ton on cash, FD Vietnam basis and excluding 10% VAT. At the time of the publication, some transactions were successfully concluded at the initial offer level since most regular customers are eager to secure materials.
To the export market, the producer is offering the materials at $920/ton on LC at sight, FOB Vietnam basis. To date, most regular customers in China are reluctant to place orders, citing ample supply of raw materials after securing sufficient volume in the past few weeks. In contrast, the producer said that the company received an overflowing amount of inquiries from several buyers in Southeast Asia this week. However, the producer refused to provide pricing quotes as the majority of the buyers are non-regular customers. “Our company will selectively offer cargoes to the regular customers only due to limited allocation,” the producer added to SSESSMENTS.COM.
The producer also shared with SSESSMENTS.COM on the pricing strategy for the upcoming August shipment. The producer stated that the company plans to release August shipment offers by next week at the earliest, hinting that the upcoming offers will likely remain stable in line with relatively stable SM price.
