Vietnamese Sellers: Done Deals Remain Scarce Amid Current PE Price Trend
- Localized and import offers moved in the same direction
- Done deals remained scarce
- Local and import PE prices predicted to remain firm
Market players reported to SSESSMENTS.COM that done deals remain scarce amid the current PE price trend in Vietnam. In comparison to a week earlier, sources informed that the offers for localized Saudi HDPE Film increased between VND700,000-800,000/ton ($30-34/ton). For import HDPE Film of Thailand origin, the offers edged higher by $10/ton on a weekly comparison following the uptrend in the international market. Sources added that the offers for import HDPE Film cargoes from the leading Saudi polyolefins producer were stable to firmer by $20/ton from last week. While for South Korean origin, the offers for HDPE Film are available at $780/ton on LC at sight, CIF Vietnam Main Port basis.
For the week commencing May 18, the offers for localized US LLDPE Film C4 were stable to firmer by VND500,000/ton ($21/ton) compared to a week earlier. For LLDPE Film C4 of Saudi origin, the offers were captured higher by VND700,000/ton ($30/ton) from a fortnight ago. While on a monthly comparison, the offers for Saudi LLDPE Film C4 increased by VND100,000/ton ($4/ton). Likewise, the offers for localized LDPE Film cargoes of Malaysia origin increased by VND500,000/ton ($21/ton) from last week. From the import market, the offers for LDPE Film and LLDPE Film C4 from the leading Saudi polyolefins producer were reportedly stable to increase around $30-40/ton. For Thailand origin, an increment of $10/ton from a week earlier was captured for LDPE Film and LLDPE Film C4 offers. Other than that, SSESSMENTS.COM was told that Vietnamese buyers voiced out buy ideas for Turkey LDPE Film cargoes at $790/ton on LC at sight, CIF Vietnam Main Port basis.
Although there is a slight improvement recorded, done deals for PE in Vietnam remain scarce. Some sellers stated that some buyers still have sufficient inventory on hand, while some others revealed that it is difficult to conclude deals as the company is only dealing with small-scale customers. Other than that, demand for finished products remains slow, which may be due to the fear of Coronavirus pandemic, hence, citizens still limiting outdoor activities despite the lifted lockdown. On the supply side, there are no issues reported by market players to SSESSMENTS.COM.
Pertaining to the outlook, the majority of Vietnamese market players expressed an opinion to SSESSMENTS.COM that local and import PE prices will most likely remain stable to firmer following the improvement in market sentiment on the back of stronger energy and ethylene prices. However, the increases would be limited as the done deals in the market remain scarce.
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