Search posts by:

Search posts by:

Newsletter successfully sent
Failed to send newletter

MonthlySSESSMENTS: April Vietnam PP Prices

Author: SSESSMENTS

  • May shipment offers for Saudi PP Homo Raffia were $150-170/ton higher from April
  • PP demand slightly improved in the final week of April
  • Vietnamese market players shared a positive outlook for local and import PP prices

In the local market, fresh local PP offers in Vietnam were scarce at the beginning of April. However, following the market uptrend in China, market talks have it that local PP Homo Raffia offers increased by VND1,000,000/ton ($42/ton) on the week commencing April 13. Until the end of April, SSESSMENTS.COM’s data showed that PP Homo Raffia offers remained stable and stood at VND23,000,000/ton ($979/ton) on cash, FD Vietnam basis and including 10% VAT.

From the import market, in the week commencing April 6, some foreign suppliers were attempting to increase PP Homo Raffia offers to Vietnam following the rebound in crude oil prices and the uptrend in the China market. One of the leading Chinese polyolefins producers increased PP Homo Raffia offers by $20/ton from a week earlier in line with the upward momentum in the China domestic market. Similarly, Indian PP Homo Raffia offers were available at $20/ton higher compared to the same period. In the following week, PP Homo Raffia offers of Thailand and Saudi origin moved up between $40-60/ton and $30/ton, respectively, while Indian PP Homo Raffia offers from the leading Indian petrochemical producer recorded at $10/ton higher on a weekly comparison. SSESSMENTS.COM noted that May shipment offers for Saudi PP Homo Raffia were $150-170/ton higher compared to April shipment. As for Thai PP Homo Injection cargoes, the offers stood at $865/ton on LC at sight, CIF Vietnam Main Port basis at the end of April.  

PP demand in Vietnam remained subdued in April. Since April 1, the government imposed partial lockdown in an attempt to curb the spread of Coronavirus. Rebound in the China market could not stimulate the PP market in the country. Buyers preferred to wait and monitor the market as the uptrend was expected to be short-lived considering the low feedstock prices and weak demand amid Coronavirus pandemic. However, in the last week of April, PP demand slightly improved and buyers were more willing to make procurements after the Vietnamese government decided to lift the lockdown, as informed to SSESSMENTS.COM. On the production front, most downstream factories were forced to stop production and cut the operating rates temporarily. Only manufacturers who produce essential products could run production at maximum capacity. On the supply side, PP cargoes in Vietnam reported sufficient throughout April, no significant issues reported by Vietnamese market players as demand was generally sluggish.

Looking into May, the majority of Vietnamese market players shared a positive outlook for local and import PP prices as demand in Vietnam is expected to continue to improve after the Coronavirus lockdown is lifted, as stated to SSESSMENTS.COM.

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

WeeklySSESSMENTS: Vietnam PP Prices W/C April 6

WeeklySSESSMENTS: Vietnam PP Prices W/C April 13

WeeklySSESSMENTS: Vietnam PP Prices W/C April 20

WeeklySSESSMENTS: Vietnam PP Prices W/C April 27

NewsSSESSMENTS: Vietnamese Trader Shares Adjustment On Import PE PP Offers, Demand Condition After Lockdown Lifted

NewsSSESSMENTS: Notable Adjustments On Offers For Vietnam PP Cargoes To China Failed To Gain Buyers’ Interest, Local Offers On Opposite Trend

Range of localized PP offers between April 1 to April 3 on cash, FD Vietnam basis (including 10% VAT in VND term, all equivalent in USD excluding VAT)

OriginProductTransaction TypeOffers (VND/ton)Equivalent in USD/ton
South KoreaPP Homo InjectionOffer Given22,000,000851

Range of import PP offers between April 1 to April 3 on LC at sight, CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)
Middle EastPP Homo InjectionOffer Given750
Middle EastPP Homo InjectionSold750
ChinaPP Homo RaffiaOffer Received770-780
Far East AsiaPP Homo RaffiaOffer Received830
Middle EastPP Homo RaffiaBid Received730
Middle EastPP Homo RaffiaBuy Idea750
Middle EastPP Homo RaffiaOffer Given750
Middle EastPP Homo RaffiaOffer Received750-780
Middle EastPP Homo RaffiaSold730
Southeast AsiaPP Homo RaffiaSold760

Range of import PP offers between April 6 to April 10 on LC at sight, CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)
Southeast AsiaPP Homo FilmOffer Given800
Southeast AsiaPP Homo FilmSold800
Middle EastPP Homo InjectionBid Received750-760
Southeast AsiaPP Homo InjectionOffer Given865
ChinaPP Homo RaffiaOffer Given800
ChinaPP Homo RaffiaOffer Received800-820
Indian SubcontinentPP Homo RaffiaOffer Received770
Middle EastPP Homo RaffiaBid Given730
Middle EastPP Homo RaffiaBid Received730
Middle EastPP Homo RaffiaOffer Received740-770
Southeast AsiaPP Homo RaffiaBid Given720
Southeast AsiaPP Homo RaffiaBid Received750
Southeast AsiaPP Homo RaffiaOffer Given770
Southeast AsiaPP Homo RaffiaOffer Received750
Southeast AsiaPP Homo RaffiaPurchased750
Southeast AsiaPP Homo RaffiaSold770

Range of import PP offers between April 13 to April 17 on LC at sight, CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)
Southeast AsiaPP Homo FilmOffer Received*880
Southeast AsiaPP Homo FilmOffer Given840
Southeast AsiaPP Homo FilmSold840
Southeast AsiaPP Homo InjectionOffer Given855
Indian SubcontinentPP Homo RaffiaOffer Received780-820
Middle EastPP Homo RaffiaOffer Received790
Southeast AsiaPP Homo RaffiaOffer Received*850
Southeast AsiaPP Homo RaffiaOffer Given810-865
Southeast AsiaPP Homo RaffiaOffer Received810-820
Southeast AsiaPP Homo RaffiaPurchased800-820
Southeast AsiaPP Homo RaffiaSold810
Southeast AsiaPP Random Copolymer InjectionOffer Received980
Southeast AsiaPP Random Copolymer InjectionPurchased980
Description: *May shipment offers

Range of local PP offers between April 20 to April 24 on cash, FD Vietnam basis (including 10% VAT in VND term, all equivalent in USD excluding VAT)

OriginProductTransaction TypeOffers (VND/ton)Equivalent in USD/ton
VietnamPP Homo RaffiaOffer Given23,000,000890

Range of import PP offers between April 20 to April 24 on LC at sight, CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)
Southeast AsiaPP Homo InjectionOffer Given865
ChinaPP Homo RaffiaOffer Received820
Far East AsiaPP Homo RaffiaOffer Received800
Middle EastPP Homo RaffiaOffer Received900
Southeast AsiaPP Homo RaffiaOffer Given850-885
Southeast AsiaPP Homo RaffiaOffer Received840-850
Southeast AsiaPP Homo RaffiaSold830

Range of local PP offers between April 27 to April 30 on cash, FD Ho Chi Minh basis (including 10% VAT in VND term, all equivalent in USD excluding VAT)

OriginProductTransaction TypeOffers (VND/ton)Equivalent in USD/ton
VietnamPP Homo RaffiaPurchased21,000,000812

Range of import PP offers between April 27 to April 30 on LC at sight, CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Payment Term
Far East AsiaPP Block CopolymerPrice List860-880LC at sight
ChinaPP Homo InjectionOffer Received820LC at sight
Far East AsiaPP Homo InjectionOffer Received820LC at sight
Southeast AsiaPP Homo InjectionOffer Received790TT
Southeast AsiaPP Homo InjectionOffer Given865LC at sight
Southeast AsiaPP Homo InjectionOffer Received850LC at sight
ChinaPP Homo RaffiaOffer Received820LC at sight
Far East AsiaPP Homo RaffiaOffer Given820LC at sight
Far East AsiaPP Homo RaffiaOffer Received820-830LC at sight
Far East AsiaPP Homo RaffiaPrice List800LC at sight
Middle EastPP Homo RaffiaSell Idea800LC at sight
Southeast AsiaPP Homo RaffiaOffer Received790TT
Southeast AsiaPP Homo RaffiaOffer Received850LC at sight
Southeast AsiaPP Homo RaffiaOffer Given885LC at sight

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

Published on May 6, 2020 9:03 AM (GMT+8)
Last Updated on May 6, 2020 9:03 AM (GMT+8)