A Vietnamese PVC producer reported to SSESSMENTS.COM that their offers for April delivery were adjusted significantly following the market dynamic. Compared to a month earlier, April delivery offers from the producer decreased significantly between VND800,000-900,000/ton ($34-38/ton). The producer added that there is also a discount available for a big volume of purchases. On the supply front, there is no issue reported at the moment.
Buying sentiment in Vietnam market is weak, SSESSMENTS.COM was told. Although the Coronavirus outbreak has a limited impact on the local market, the virus already spread globally, which caused a continuous drop in crude oil prices. Moreover, the market situation in Southeast Asian countries is terrible due to the outbreak as buyers reduced the buying quantity and are expecting a lower price to be visible. “In terms of outlook, we have no idea, for now, we are still monitoring the market situation,” the trader added.
