monthlyssessments-june-vietnam-pp-prices

During June, local and localized PP offers in the Vietnam market were mostly on an uptrend, in line with the international market trend. However, SSESSMENTS.COM was told that a local producer attempted to keep offers competitive by avoiding significant upward adjustments. The producer even applied a downward adjustment of VND500,000/ton ($21/ton) on their offers for PP Homo Raffia in the week commencing June 22 when other suppliers in the country increased offers for the same product. In the first week of June, offers for local PP Homo Raffia and PP Homo Injection increased by VND100,000/ton ($4/ton) and VND200,000/ton ($8/ton) respectively. Meanwhile, offers for localized PP Homo Injection cargoes from Saudi went up by VND500,000/ton ($21/ton). In the following week, further upward adjustments between VND500,000-1,000,000/ton ($21-43/ton) were captured for local PP Homo Raffia offers. In the week commencing June 15, local PP Homo Raffia offers increased again by VND400,000/ton ($17/ton) and already reached VND26,000,000/ton ($1,117/ton) on cash, FD Vietnam basis and including 10% VAT. In the same week, offers for localized PP Homo Raffia from Saudi increased by VND1,000,000/ton ($43/ton). In the fourth week of the month, another price increment of VND300,000/ton ($13/ton) on local PP Homo Raffia was recorded. All changes were on a weekly comparison.

From the import market, upward movements were mostly seen in the first half of the month while in the second half, offers for some origins were captured stable on a weekly comparison. In the first week of June, SSESSMENTS.COM was informed that PP Homo Raffia offers from Thai producers increased between $30-50/ton while offers for the grade from Saudi also increased between $30-40/ton. In the second week, a Thai producer increased offers for PP Homo Raffia further by $50/ton citing limited allocation. Likewise, PP Homo Raffia offers from Saudi hiked by $60/ton. In the third week, PP Homo Raffia offers from India were stable to increase by $20/ton. In the same week, Middle Eastern PP Homo Raffia cargoes offered between $20-30/ton higher. In the week commencing June 22, offers for Thailand PP Homo Raffia stood at $1,050/ton on LC at sight, CIF Vietnam main port basis. Market players called such a level ridiculously high. As for Middle East origin, offers for PP Homo Raffia in this particular week were stable. All were also on a weekly comparison.

PP demand in Vietnam remained on a soft note throughout June as sales for converters’ end-products were still slow. The rainy season has impacted the end-product sales. Some converters were only running between 40-50% of the normal operating rate. Besides, high offer levels discouraged buyers from making purchases. Some converters with sufficient inventory on hand were not interested in making procurements and preferred to monitor market movements. On the supply side, Thai producers had limited allocation to Vietnam during the month, but no issues were reported to SSESSMENTS.COM on local supply. In the production sector, market talks have it that Nghi Son Refinery and Petrochemical (NSRP) is currently running at 70% of normal capacity and plans to run at full capacity in August. According to rumour, Binh Son Refinery and Petrochemical (BSR) will have maintenance shutdown in July and August. However, no confirmation and further details regarding the matter up to the time of publication.

Looking ahead, market players contacted by SSESSMENTS.COM opined that PP offers in the Vietnam market will decrease in July due to unsupportive demand following slow sales of end-products amid the intensifying rain in the particular month.

Range of local/localized PP offers between June 1 to June 5 on cash, FD basis (including 10% VAT in VND term, excluding VAT in USD term)

Origin	Product	Transaction Type	Offers (VND/ton)	Equivalent in USD/ton	Delivery Location
Saudi Arabia	PP Homo Injection	Offer Received	24,500,000	957	Ho Chi Minh
Thailand	PP Homo Injection	Offer Received	24,700,000-25,000,000	964-976	Ho Chi Minh
Vietnam	PP Homo Injection	Offer Received	24,200,000	945	Ho Chi Minh
Vietnam	PP Homo Injection	Purchased	24,200,000	945	Ho Chi Minh
Vietnam	PP Homo Raffia	Offer Received	23,100,000-24,000,000	902-937	Ho Chi Minh
Vietnam	PP Homo Raffia	Offer Received	24,500,000-25,500,000	957-996	Haiphong
Vietnam	PP Homo Raffia	Purchased	24,500,000	957	Haiphong
Vietnam	PP Homo Raffia	Sell Idea	23,700,000	925	Haiphong

Range of import PP offers between June 1 to June 5 on LC at sight, CIF Vietnam Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)
Middle East	PP Block Copolymer	Offer Received	820-850
Middle East	PP Homo Injection	Purchased	1,040
Middle East	PP Homo Injection	Sell Idea	990-1,000
Southeast Asia	PP Homo Injection	Offer Given	950
Southeast Asia	PP Homo Injection	Sell Idea	990-1,000
China	PP Homo Raffia	Offer Received	900
Far East Asia	PP Homo Raffia	Offer Received	950
Indian Subcontinent	PP Homo Raffia	Offer Given	880
Indian Subcontinent	PP Homo Raffia	Offer Received	900
Middle East	PP Homo Raffia	Offer Received	860-930
Middle East	PP Homo Raffia	Bid Received	870
Middle East	PP Homo Raffia	Purchased	920
Middle East	PP Homo Raffia	Sold	870
Southeast Asia	PP Homo Raffia	Offer Received	970-990

Range of local/localized PP offers between June 8 to June 12 on cash, FD basis (including 10% VAT in VND term, excluding VAT in USD term)

Origin	Product	Transaction Type	Offers (VND/ton)	Equivalent in USD/ton	Delivery Location
Vietnam	PP Homo Raffia	Offer Given	24,800,000-26,000,000	968-1,015	Haiphong
Vietnam	PP Homo Raffia	Offer Received	24,500,000	957	Haiphong
Vietnam	PP Homo Raffia	Offer Received	25,000,000	976	Ho Chi Minh
Saudi	PP Homo Raffia	Offer Given	25,500,000	996	Ho Chi Minh
Thailand	PP Homo Raffia	Offer Given	24,800,000	968	Ho Chi Minh
South Korea	PP Random Copolymer	Offer Received	29,000,000	1,132	Ho Chi Minh

Range of import PP offers between June 8 to June 12 on LC at sight, CIF Vietnam Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)
North America	PP Block Copolymer	Purchased	1,190***
Indian Subcontinent	PP Homo Film	Offer Received	945**
Far East Asia	PP Homo Film	Offer Received	980*
Middle East	PP Homo Injection	Offer Given	900
Southeast Asia	PP Homo Injection	Offer Given	1,000
Indian Subcontinent	PP Homo Raffia	Offer Given	920
Indian Subcontinent	PP Homo Raffia	Offer Received	920**
Middle East	PP Homo Raffia	Offer Given	900-930
Middle East	PP Homo Raffia	Offer Received	880-920
Middle East	PP Homo Raffia	Sold	880-930
Middle East	PP Homo Raffia	Bid Received	920
Southeast Asia	PP Homo Raffia	Offer Received	920*-1,000

Description: *July shipment offers **August shipment offers ***Special grade

Range of local/localized PP offers between June 15 to June 19 on cash, FD basis (including 10% VAT in VND term, excluding VAT in USD term)

Origin	Product	Transaction Type	Offers (VND/ton)	Equivalent in USD/ton	Delivery Location
Saudi	PP Block Copolymer	Offer Given	28,500,000	1,113	Ho Chi Minh
South Korea	PP Homo Raffia	Offer Given	25,000,000	976	Haiphong
Vietnam	PP Homo Raffia	Offer Given	25,300,000	988	Ho Chi Minh
Vietnam	PP Homo Raffia	Offer Given	25,200,000	984	Haiphong
Vietnam	PP Homo Raffia	Offer Received	24,600,000-24,800,000	960-968	Ho Chi Minh
Vietnam	PP Homo Raffia	Offer Received	25,080,000-26,000,000	979-1,015	Haiphong
Vietnam	PP Homo Raffia	Sell Idea	26,500,000	1,035	Haiphong
Saudi	PP Homo Raffia	Offer Given	26,000,000	1,015	Ho Chi Minh
Saudi	PP Homo Raffia	Sell Idea	26,500,000	1,035	Ho Chi Minh
South Korea	PP Homo Raffia	Offer Given	25,000,000	976	Haiphong
Saudi	PP Random Copolymer Injection	Offer Given	32,000,000	1,249	Ho Chi Minh

Range of import PP offers between June 15 to June 19 on LC at sight, CIF Vietnam Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)
Far East Asia	PP Block Copolymer	Offer Given	980
Middle East	PP Homo Injection	Offer Received	980
Indian Subcontinent	PP Homo Injection	Offer Given	920-930
Middle East	PP Homo Injection	Buy Idea	890-900
Middle East	PP Homo Injection	Offer Given	920-930
Middle East	PP Homo Injection	Offer Received	930
Southeast Asia	PP Homo Injection	Offer Given	1,030
Far East Asia	PP Homo Raffia	Offer Received	940-950
Indian Subcontinent	PP Homo Raffia	Offer Given	900*-930
Middle East	PP Homo Raffia	Buy Idea	890-900
Middle East	PP Homo Raffia	Offer Given	910-930
Middle East	PP Homo Raffia	Offer Received	930
Middle East	PP Homo Raffia	Sold	910-930
Southeast Asia	PP Homo Raffia	Offer Given	940*
Southern Africa	PP Homo Raffia	Sold	900

Description: *Offers for July shipment

Range of local/localized PP offers between June 22 to June 26 on cash, FD basis (including 10% VAT in VND term, excluding VAT in USD term)

Origin	Product	Transaction Type	Offers (VND/ton)	Equivalent in USD/ton	Delivery Location
Saudi	PP Block Copolymer	Offer Given	28,500,000	1,113	Ho Chi Minh
Malaysia	PP Homo Film	Sold	26,600,000	1,039	Ho Chi Minh
South Korea	PP Homo Film	Offer Given	26,600,000-27,000,000	1,039-1,054	Ho Chi Minh
Thailand	PP Homo Film	Sell Idea	28,000,000	1,093	Ho Chi Minh
Saudi	PP Homo Raffia	Offer Given	26,000,000	1,015	Ho Chi Minh
Saudi	PP Homo Raffia	Offer Given	25,500,000-25,800,000	996-1,007	Haiphong
South Korea	PP Homo Raffia	Sold	25,500,000	996	Haiphong
Thailand	PP Homo Raffia	Offer Received	27,600,000	1,078	Ho Chi Minh
Vietnam	PP Homo Raffia	Offer Received	24,300,000-26,300,000	949-1,027	Ho Chi Minh
Vietnam	PP Homo Raffia	Purchased	24,200,000	945	Ho Chi Minh
Vietnam	PP Homo Raffia	Offer Received	26,300,000	1,027	Haiphong
Saudi	PP Random Copolymer Injection	Offer Given	32,000,000	1,249	Ho Chi Minh

Range of import PP offers between June 22 to June 26 on LC at sight, CIF Vietnam Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)
Middle East	PP Block Copolymer	Offer Given	1,020*
Middle East	PP Homo Film	Offer Received	1,030
Far East Asia	PP Homo Injection	Offer Received	940*
Middle East	PP Homo Injection	Offer Received	930
Southeast Asia	PP Homo Injection	Offer Given	1,030
Far East Asia	PP Homo Raffia	Offer Received	940*
Indian Subcontinent	PP Homo Raffia	Offer Received	930
Middle East	PP Homo Raffia	Offer Given	930
Middle East	PP Homo Raffia	Offer Received	920-1,000
Middle East	PP Homo Raffia	Bid Received	920
Middle East	PP Homo Raffia	Sold	930
Southeast Asia	PP Homo Raffia	Offer Given	1,050
Southern Africa	PP Homo Raffia	Bid Received	920

Description: *Offers for July shipment

Range of localized PP offers between June 29 to June 30 on cash, FD basis (including 10% VAT in VND term, excluding VAT in USD term)

Origin	Product	Transaction Type	Offers (VND/ton)	Equivalent in USD/ton	Delivery Location
China	PP Homo Raffia	Offer Received	24,500,000-25,000,000	957-976	Haiphong
India	PP Homo Raffia	Offer Received	24,500,000-25,000,000	957-976	Haiphong

Range of import PP offers between June 29 to June 30 on LC at sight, CIF Vietnam Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)
Middle East	PP Block Copolymer	Offer Received	1,040
Far East Asia	PP Homo Raffia	Offer Received	1,000
Middle East	PP Homo Raffia	Offer Received	970

Description: *All offers for July shipment

MonthlySSESSMENTS: June Vietnam PP Prices

Author: SSESSMENTS

MonthlySSESSMENTS: June Vietnam PP Prices

Author: SSESSMENTS

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