Based on the data collected by SSESSMENTS.COM, traders in Vietnam are trying to utilize the current momentum to maximize profit. Compared to the direct offers from one of the PVC producers in Vietnam two weeks ago, the current offers from traders’ end are between VND600,000-1,000,000/ton ($26-43/ton) higher. Traders found some confidence to offer at high levels since the producer has sold out all of the allocations since two weeks ago. However, buyers were showing resistance towards the high-end prices as restocking activities have been done since two weeks ago.
In the days to come, a converter opined that local PVC producers will adjust up the offers following the increment from the leading Taiwanese PVC producer. Taking into account the uptrend in the China and India market, the leading Taiwanese PVC producer might increase the offers by $100/ton for July shipment. However, the price increases from the local producers would not be as much as the upward price adjustment from the leading Taiwanese PVC producer due to the lack of supporting factors. In July-August, the PVC market in Vietnam will be hampered by the rainy season, SSESSMENTS.COM was told.
