Vietnamese traders have gained momentum to adjust import China PET offers amid the Labor Day holiday. As reported to SSESSMENTS.COM, the latest import offers for PET Bottle cargoes of China origin to Vietnam went up between $5-15/ton on a weekly comparison. Players explained that the upward adjustment was mostly caused by the limited offers for China origin cargoes as most suppliers in the country are away from their desks due to the Labor Day holiday. The Chinese suppliers will likely back to the market by next week.
Despite the upward adjustment, buyers remain unmoved. No deals concluded so far. Most suppliers are under sales pressure amid the sluggish demand as buyers are not keen on making procurement activities, citing that they have already replenished their stocks in the previous week. At the moment, most sellers are monitoring market development closely while waiting for the China market to resume.
Further added to SSESSMENTS.COM, import PET Bottle offers of Thailand and Indonesia origins to Vietnam remain stable from last week’s levels. Market talks have it that PET Bottle offers of Taiwan origin are available at $730/ton on LC at sight, CIF Vietnam Main Port basis. In the days to come, market players believe that the changes in PET Bottle prices would not be significant considering the market uncertainties.
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WeeklySSESSMENTS: Vietnam PET Prices W/C April 27
