monthlyssessments-march-vietnam-pe-prices-

During March, SSESSMENTS.COM’s data showed that deals for Saudi HDPE Film and LLDPE Film cargoes were achieved between $10-20/ton lower from the initial offers. However, on the week commencing March 16, limited transactions recorded as the fears of Coronavirus coupled with a drop in oil prices dragged down buying sentiment in the Vietnam market. For the week commencing March 23, some producers decided to lower PE offers due to softer crude oil prices and slow demand amid the Coronavirus outbreak. April shipment offers for HDPE Film, LDPE Film, and LLDPE Film C4 from the leading Saudi polyolefins producer surfaced in the Vietnam market with a reduction between $50-90/ton compared to March shipment, with cargoes to be shipped from Malaysia and Singapore port.

As for other grades, in the first week of March, import US HDPE Blow Moulding to Vietnam at $850/ton on LC at sight, CIF Vietnam Main Port basis was deemed too high. While buyers submitted bids for Indian HDPE Yarn at $110/ton lower than the initial offers at $730/ton on the same payment and delivery term on the week commencing March 16. However, considering low crude oil and feedstock prices, market players opined to SESSMENTS.COM that bids at $700/ton-level for PE cargoes were reasonable.

Overall demand in the Vietnam PE market was bearish during March. Buying sentiment eroded due to a significant drop in crude oil prices coupled with the slow digestion of finished products. Moreover, buyers prefer to halt procurements and monitor the market situation in anticipation of lower PE prices. On the supply side, PE supply in Vietnam remains ample at the end of March. However, foreign suppliers expect to face shipment issues as most Southeast Asian countries have declared a state of emergency or lockdown over the outbreak, SSESSMENTS.COM was told.

Looking ahead, Vietnamese market players opined to SSESSMENTS.COM that sluggish PE demand is expected to persist considering the current situation. As such, PE prices will continue on a downtrend in the days to come.

Transactions for import PE between March 9 to March 13 on LC at sight, CIF Vietnam Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)
Middle East	HDPE Blow Moulding	Offer Given	840
North America	HDPE Blow Moulding	Bid Received	740
North America	HDPE Blow Moulding	Sell Idea	800
Middle East	HDPE Film	Offer Given	830
Middle East	HDPE Film	Offer Received	810-820
Middle East	HDPE Film	Purchased	810
Southeast Asia	HDPE Yarn	Offer Given	890
Middle East	LDPE Film	Offer Given	950
Middle East	LDPE Film	Sold	950
Middle East	LLDPE Film C4	Offer Given	850
Middle East	LLDPE Film C4	Offer Received	830
Middle East	LLDPE Film C4	Purchased	830
North America	LLDPE Film C4	Offer Given	800
North America	LLDPE Film C4	Sold	800

Transactions for import PE between March 16 to March 20 on LC at sight, CIF Vietnam Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)
Indian Subcontinent	HDPE Film	Offer Received	820
Middle East	HDPE Film	Offer Given	830
Middle East	HDPE Film	Sold	830
Indian Subcontinent	HDPE Yarn	Bid Given	730
Indian Subcontinent	HDPE Yarn	Offer Given	820
Indian Subcontinent	HDPE Yarn	Offer Received	840
Middle East	LDPE Film	Offer Given	930
Middle East	LDPE Film	Sold	930
Middle East	LDPE Film	Bid Received	870
Southeast Asia	LDPE Film	Sold	1,000-1,010
Indian Subcontinent	LLDPE Film C4	Offer Given	810

Range of export PET Bottle offers between March 23 to March 27 on LC at sight, FOB China basis

Origin	Transaction Type	Offers (USD/ton)
China	Offer Given	690-715
China	Offer Received	680
China	Sell Idea	685-710
China	Sold	680-690

Transactions for import PE between March 23 to March 27 on CIF/CFR Vietnam Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)	Payment Term
North America	HDPE Blow Moulding	Offer Given	750	LC at sight
North America	HDPE Blow Moulding	Bid Received	680	LC at sight
Far East Asia	HDPE Film	Offer Received	780	LC at sight
Middle East	HDPE Film	Offer Received	730-830*	LC at sight
North America	HDPE Film	Offer Received	780	LC at sight
Southeast Asia	HDPE Film	Offer Given	840-850	LC at sight
Indian Subcontinent	HDPE Yarn	Offer Received	800	LC 90 days
Indian Subcontinent	HDPE Yarn	Offer Given	820	LC at sight
Middle East	LDPE Film	Offer Given	900	LC at sight
Middle East	LDPE Film	Offer Received	900**	LC at sight
Middle East	LDPE Film	Purchased	900**	LC at sight
Southeast Asia	LDPE Film	Offer Given	940-960	LC at sight
Southeast Asia	LDPE Film	Sold	960	LC at sight
Middle East	LLDPE Film C4	Offer Given	810	LC at sight
Middle East	LLDPE Film C4	Offer Received	830-850*	LC at sight
Southeast Asia	LLDPE Film C4	Offer Given	840-850	LC at sight
Indian Subcontinent	LLDPE Film C4	Offer Given	810	LC at sight
North America	LLDPE Film C4	Offer Given	780	LC at sight
North America	mLLDPE C6	Offer Received	1,05	LC at sight
Southeast Asia	mLLDPE C6	Offer Received	1,05	LC at sight

Transactions for import PE between March 30 to March 31 on LC at sight, CIF Vietnam Main Port basis

Origin	Product	Transaction Type	Offers (USD/ton)
Middle East	HDPE Film	Offer Received	730*-770
Middle East	HDPE Film	Purchased	710*
Middle East	HDPE Film	Buy Idea	650
North America	HDPE Film	Offer Received	730-750
Southeast Asia	HDPE Film	Offer Received	820
Indian Subcontinent	HDPE Yarn	Offer Received	780
Middle East	LLDPE Film C4	Offer Received	780

Description: *Shipment from Malaysia and Singapore

MonthlySSESSMENTS: March Vietnam PE Prices

Author: SSESSMENTS

MonthlySSESSMENTS: March Vietnam PE Prices

Author: SSESSMENTS

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