A Vietnamese PVC producer applied drastic adjustment on July delivery offers, SSESSMENTS.COM was told. On June 22, the producer announced July delivery offers for ethylene-based PVC between VND2,200,000-2,300,000/ton ($94-99/ton) higher from June delivery. Other than following the international price trend, the upward increment was made due to the higher production costs. However, there is no response yet from the buyers as the offers just released. Moreover, some traders are still offering at a lower price in the open market. “The traders will most likely follow the upward increment, although they will monitor the buyers’ response first before moving forward with the adjustment,” the producer opined.
In general, PVC demand in Vietnam has started to shrink. The producer received information from their customers that the temperature in North Vietnam is too hot for outdoor activities; hence, affecting PVC demand. While in South Vietnam, the rain has started to kick-in and affecting PVC demand as well. Additionally, the producer stated to SSESSMENTS.COM that the company is currently waiting for market feedbacks.
