PET Prices Trend In Vietnam Moved In Line With Market Players’ Expectation
- PET prices adjusted as expected
- No sign of improvement in demand for PET Bottle
- Recent price trend is expected to prolong
In-line with Vietnamese market players’ expectation, local and import PET Bottle prices showed a further reduction within the week commencing July 27. In the local market, SSESSMENTS.COM noted that local PET Bottle prices have decreased between VND300,000-500,000/ton ($13-22/ton) as compared to last week’s level. While for local materials offered in USD denomination, the offers have gone down between $10-20/ton during the same time comparison. The deals for local materials were concluded at $20/ton lower as compared to the concluded deals achieved in a fortnight ago. In the import market, some traders maintained the offer for import PET Bottle of Indonesia and Thailand origin stable, while some others adjusted down the offers between $20-30/ton on a weekly comparison.
Demand for PET Bottle resins remained sluggish as the sales for the end products still on the soft note. Added to that, sufficient inventory on-hand held buyers to do the replenishment activities. For end-products demand, although the rain intensity has begun to decrease but the holiday season has dampened demand for water bottles. For PET tray, demand is ongoing, yet it cannot be considered strong. No significant supply issues reported by Vietnamese market players to SSESSMENTS.COM.
Looking ahead, Vietnamese market players stated that PET Bottle prices have some room to decrease further. Since improvement in PET Bottle demand remains off-sight, market participants opined that the recent downtrend is just the beginning. Demand-wise, demand for PET Bottle is expected to be robust by the end of September the soonest, SSESSMENTS.COM was told.
