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MonthlySSESSMENTS: April Vietnam PE Prices

Author: SSESSMENTS

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  • Import PE offers recorded in a mixed direction during April 
  • Materials delivery was disrupted due to Coronavirus lockdown
  • PE prices predicted to remain on a downtrend

In the domestic market, market sources revealed to SSESSMENTS.COM on several deals concluded for localized PE cargoes during April. On the week commencing April 13, some converters managed to conclude a deal for localized Saudi LLDPE Film C4 cargoes at VND22,000,000/ton ($936/ton), which was VND1,000,000/ton ($42.5/ton) lower from the initial offer level available in a week earlier. While for localized South Korean LLDPE Film C4 cargoes, done deals were achieved at VND21,200,000/ton ($902/ton). Other than that, done deal for localized Saudi LLDPE Film C4 cargoes at VND20,000,000/ton ($851/ton) was also recorded in the final week of the month, which was VND500,000/ton ($21/ton) lower from the previous deals. All transactions were on cash, FD Vietnam basis, and including 10% VAT. 

From the import market, the offers for Saudi HDPE Film to Vietnam were trimmed between $60-100/ton in the first week of April. Despite the hefty reduction, sources stated to SSESSMENTS.COM that deals were concluded at $20/ton lower from the initial offer level for shipment from Malaysia and Singapore. While for Southeast Asian cargoes, the offers were also down by $30/ton. Moving to the second week, the offers for Saudi HDPE Film dropped between $20-30/ton. However, in the upcoming week, the offers for HDPE Film of various origins were captured stable to firmer by $10-50/ton following the uptrend in the China market. All on a weekly comparison. In the fourth week of the month, a US PE producer offered HDPE Film at $790/ton on LC at sight, EXW Vietnam basis and customers were submitting bids at $40/ton lower from the initial offer level, however, there was no response from the supplier. Meanwhile, a Saudi producer applied a hefty adjustment on HDPE Film offers by $100/ton lower on a monthly comparison. By the final week of the month, May shipment offers for HDPE Film from the leading Saudi polyolefins producer increased by $70/ton compared to the offer level in early April. While on a weekly comparison, the offers increased between $20-60/ton as supported by tight supply from the producer’s end. For HDPE Yarn, the leading Indian petrochemical producer also adjusted up offers by $20/ton on a weekly comparison. 

For LDPE Film and LLDPE Film C4, the offers for Southeast Asian LDPE Film cargoes to Vietnam market decreased by $50/ton in the first week of April compared to March’s level while LLDPE Film C4 offers of the same origin were absent. Meanwhile, Saudi LLDPE Film C4 cargoes were concluded at $20/ton lower from the initial offer level, SSESSMENTS.COM was told. Moving to the second week, the offers for Saudi LLDPE Film C4 decreased by $30/ton on a weekly comparison. Despite the adjustment, buyers preferred to purchase Singaporean cargoes as the producer was willing to accept the TT payment term. Other sources revealed that customers were submitting bids for Saudi LLDPE Film C4 at $10/ton lower than the initial level, considering the previous deal level, however, the bids were rejected. Following the uptrend in the China market, the offers for LDPE Film and LLDPE Film C4 of various origins were recorded stable to firmer between $10-50/ton in the third week of April, changes were on a weekly basis. Moving to the week commencing April 20, a Saudi producer applied a hefty reduction of $100/ton for LLDPE Film C4 on the monthly comparison. While for Malaysian LDPE Film and Indonesian LLDPE Film C4 cargoes, the offers were kept stable from the previous week. In the final week of April, the leading Saudi polyolefins producer announced May shipment offers for LLDPE Film C4 with a decrease of $10/ton compared to the offers in early April. While on a weekly comparison, the offers were recorded stable. Sources stated that the firm offers were supported by the tight supply from the producer’s end. For LDPE Film, May shipment offers from the leading Saudi polyolefins producer recorded at $860/ton on LC at sight, CIF Vietnam Main Port basis, and no price comparison available.   

Owing to several factors, such as sufficient inventory on hand, slow sales for finished products, as well as the expectation for a lower price, demand for PE in Vietnam was sluggish during April. Most buyers preferred to delay the procurement activities and opted for the wait-and-see stance due to market uncertainties amid the Coronavirus pandemic. Moreover, citizens were obliged to stay at home as the Vietnamese government implemented a nationwide lockdown from April 1 until April 22, with the extended lockdown in some areas with a high risk of infections. During the strict social restrictions, sources stated that healthy demand was recorded for food packaging and home care products. Sources also added to SSESSMENTS.COM that the strict social restriction disrupted materials delivery as several cities were closed during the period. 

Looking into May, the majority of Vietnamese market players opined to SSESSMENTS.COM that despite lockdown has been lifted, PE prices will remain on a downtrend as the overall demand is still generally weak. However, some sources expect to see a slight demand improvement in the foreseeable future as schools will be open again on May 11.

Click below to view related stories and content on Vietnam PE: 

WeeklySSESSMENTS: Vietnam PE Prices W/C March 30

WeeklySSESSMENTS: Vietnam PE Prices W/C April 6

WeeklySSESSMENTS: Vietnam PE Prices W/C April 13

WeeklySSESSMENTS: Vietnam PE Prices W/C April 20

WeeklySSESSMENTS: Vietnam PE Prices W/C April 27

Transactions for localized PE between April 1 to April 3, FD Haiphong basis (including 10% VAT in VND term, excluding VAT in USD terms)

OriginProductTransaction TypeOffers (VND/ton)Equivalent in USD/ton
Saudi ArabiaHDPE FilmPurchased21,800,000843
South KoreaLLDPE Film C4Purchased21,200,000820

Transactions for import PE between April 1 to April 3 on LC at sight, CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)
Middle EastHDPE Blow MouldingOffer Given740
Middle EastHDPE Blow MouldingBid Received700
Middle EastHDPE FilmOffer Received770
Middle EastHDPE FilmBid Received700
Middle EastHDPE FilmOffer Given730*-750*
North AmericaHDPE FilmOffer Received730*
Southeast AsiaHDPE FilmOffer Given840
Middle EastLDPE FilmOffer Given860
Middle EastLDPE FilmBid Received850
Middle EastLDPE FilmPurchased930
Southeast AsiaLDPE FilmOffer Given980
Middle EastLLDPE Film C4Offer Given790
Middle EastLLDPE Film C4Offer Received790*
Middle EastLLDPE Film C4Sold740*-770
Middle EastLLDPE Film C4Purchased770
North AmericaLLDPE Film C4Offer Given730-740
Description: *Shipped from Malaysia and Singapore

Transactions for import PE between April 6 to April 10 on LC at sight, CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)
Middle EastHDPE Blow MouldingOffer Given710
Middle EastHDPE Blow MouldingBid Received680
North AmericaHDPE Blow MouldingOffer Given680-690
North AmericaHDPE Blow MouldingOffer Received690-700
North AmericaHDPE Blow MouldingPurchased690-700
Indian SubcontinentHDPE FilmOffer Given750
Middle EastHDPE FilmOffer Given710-720
Middle EastHDPE FilmOffer Received700-770**
Middle EastHDPE FilmSold700
Middle EastHDPE FilmPurchased700-710**
North AmericaHDPE FilmOffer Given700
North AmericaHDPE FilmBid Received670-680
North AmericaHDPE FilmOffer Received700****-720
Middle EastHDPE Pipe Black (100)Offer Given880
Indian SubcontinentHDPE YarnOffer Given750
Middle EastLDPE FilmBid Received820
Middle EastLDPE FilmSold820
Indian SubcontinentLLDPE Film C4Offer Given720-730
Middle EastLLDPE Film C4Offer Received740**-780
Middle EastLLDPE Film C4Bid Given770
Middle EastLLDPE Film C4Purchased740-750**
Southeast AsiaLLDPE Film C4Purchased770*
North AmericaLLDPE Film C4Offer Given700
North AmericaLLDPE Film C4Bid Received670-680
North AmericaLLDPE Film C4Offer Received710-720
North AmericaLLDPE Film C4Purchased710-720
North AmericamLLDPE C6Offer Received1,020***
Southeast AsiamLLDPE C6Offer Received1,020
Description: *Offers on TT payment term **Shipment from Malaysia and Singapore ***Shipment from Singapore ****Shipment from Malaysia

Transactions for localized PE between April 13 to April 17, FD basis (including 10% VAT in VND term, excluding VAT in USD terms)

OriginProductTransaction TypeOffers (VND/ton)Equivalent in USD/tonPayment TermDelivery Location
ThailandHDPE Blow MouldingPurchased25,000,00096730 Days Credit TermHo Chi Minh
ThailandHDPE Blow MouldingPurchased21,200,000820Cash In AdvanceHo Chi Minh
SaudiLLDPE Film C4Purchased22,000,000851Cash In AdvanceHo Chi Minh
South KoreaLLDPE Film C4Purchased21,200,000820Cash In AdvanceHaiphong

Transactions for import PE between April 13 to April 17 on LC at sight, CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)
Middle EastHDPE Blow MouldingOffer Received820
Middle EastHDPE FilmOffer Received710-750
Southeast AsiaHDPE FilmOffer Received760*-780*
Southeast AsiaHDPE FilmOffer Given820*
North AmericaHDPE FilmOffer Received690**-730
North AmericaHDPE FilmBid Received680-700
North AmericaHDPE FilmSell Idea710
Indian SubcontinentHDPE YarnOffer Given750
Southeast AsiaHDPE YarnOffer Received790
Indian SubcontinentLDPE FilmOffer Given810
Indian SubcontinentLDPE FilmOffer Received840-860
Southeast AsiaLDPE FilmOffer Received850*-900
Southeast AsiaLDPE FilmOffer Given840-910*
Southeast AsiaLDPE FilmSold840-850
Indian SubcontinentLLDPE Film C4Offer Given730
Indian SubcontinentLLDPE Film C4Offer Received730-740
Indian SubcontinentLLDPE Film C4Sell Idea720
Middle EastLLDPE Film C4Offer Received750-760
North AmericaLLDPE Film C4Sold710
Southeast AsiaLLDPE Film C4Offer Received750*
Description: *Offers for May shipment **Shipment from Port Klang, Malaysia

Transactions for import PE between April 20 to April 24 on LC at sight, CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)
USAHDPE Blow MouldingOffer Given690-700
USAHDPE Blow MouldingBid Received620-650
KuwaitHDPE FilmOffer Received760
SaudiHDPE FilmOffer Received720-740**
SaudiHDPE FilmBuy Idea600
USAHDPE FilmOffer Given700-710
USAHDPE FilmOffer Received740-790*
USAHDPE FilmSell Idea690-700
USAHDPE FilmBid Given750*
ThailandHDPE Pipe (PE 100)Purchased860
MalaysiaLDPE FilmOffer Received850-860
USALDPE FilmOffer Received850
IndonesiaLLDPE Film C4Offer Given760
SaudiLLDPE Film C4Offer Received700-730**
South KoreaLLDPE Film C4Offer Received760
USALLDPE Film C4Offer Given700-710
USALLDPE Film C4Sell Idea690-700
Description: *Offers on EXW basis **Offers on CIP basis

Transactions for local PE between April 27 to April 30 on cash, FD Vietnam basis (including 10% VAT in VND term, excluding VAT in USD term)

OriginProductTransaction TypeOffers (VND/ton)Equivalent in USD/ton
Saudi ArabiaLLDPE Film C4Purchased20,000,000774

Transactions for import PE between April 27 to April 30 on LC at sight, CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)
Central AsiaHDPE FilmPurchased665
Middle EastHDPE FilmBid Given680
Middle EastHDPE FilmOffer Received740-770*
Middle EastHDPE FilmPrice List740
North AmericaHDPE FilmOffer Given700-710
North AmericaHDPE FilmOffer Received710
North AmericaHDPE FilmPurchased680
Southeast AsiaHDPE Pipe (PE 100)Offer Received930
Southeast AsiaHDPE Pipe (PE 100)Buy Idea820-830
Indian SubcontinentHDPE YarnOffer Received740
Indian SubcontinentHDPE YarnBuy Idea720
Middle EastLDPE FilmOffer Given840
Middle EastLDPE FilmBid Received820
Middle EastLDPE FilmOffer Received860*
Middle EastLDPE FilmSell Idea840
Indian SubcontinentLLDPE Film C4Offer Received750
Middle EastLLDPE Film C4Buy Idea700
Middle EastLLDPE Film C4Offer Received710-750
Middle EastLLDPE Film C4Price List740
North AmericaLLDPE Film C4Offer Received690
North AmericamLLDPE C6Offer Received1,010
Southeast AsiamLLDPE C6Offer Received1,010
Description: *Shipment from Singapore/Malaysia

Tags: Asia Pacific,English,Monthly,PE,SEA,Vietnam

Published on May 5, 2020 4:15 PM (GMT+8)
Last Updated on July 7, 2020 6:19 PM (GMT+8)

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