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MonthlySSESSMENTS: May Vietnam PE Prices

Author: SSESSMENTS

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  • Import PE offers to Vietnam surged at the end of the month
  • Buying sentiment slightly improved in the final week of the month
  • Market players predict that the price trend would not last for a long time

In general, localized PE prices in Vietnam during May were showing an increase week by week. On the week commencing May 4, localized LLDPE Film C4 of South Korea origin went down by VND700,000/ton ($30/ton) as compared to the previous deals for April delivery. However, in the upcoming week, the rebound in crude oil prices and the further easing of coronavirus lockdown, supported localized PE prices to increase around VND1,000,000/ton ($43/ton) as compared to a week earlier. Further price increases captured on the week commencing May 18. SSESSMENTS.COM noted that on a weekly comparison offers for localized HDPE Film of Saudi origin were up between VND700,000-800,000/ton ($30-34/ton). Likewise, localized LDPE Film of Malaysia origin and LLDPE Film C4 of US origin increased by VND500,000/ton ($21/ton). While on a monthly comparison, localized Saudi LLDPE Film C4 rose by VND100,000/ton ($4/ton). In the final week of the month, limited supply on the traders’ end provided another supporting factor for localized LDPE Film of Saudi origin and LLDPE Film C4 of South Korea origin to increase by VND500,000/ton ($21/ton) as compared to a week earlier.

In the import market, in the week commencing May 4, the leading Saudi polyolefins producer reduced the offers for LLDPE Film C4 by $10/ton as compared to a week earlier. While another Saudi producer increased HDPE Film and LLDPE Film C4 prices by $20/ton compared to April’s level. For mLLDPE C6 of US origin, the offers dropped by $30/ton from a week earlier. In the following week, a Malaysian polyolefins producer announced offers for June shipment with an increment of $20/ton for HDPE Film and $50/ton for LDPE Film compared to offers for May shipment. For Middle Eastern cargoes, HDPE Film and LLDPE Film C4 of Saudi origin increased by $10/ton on a weekly comparison. Further price increases captured on the week commencing May 18. The leading Saudi polyolefins producer adjusted up the offers for HDPE Film by $20/ton. For LDPE Film and LLDPE Film C4, the offers were stable to firmer by $30-40/ton. For Thailand cargoes, offers for HDPE Film, LDPE Film, and LLDPE Film C4 edged higher by $10/ton. In the final week of the month, SSESSMENTS.COM noted a significant upward price adjustment from the leading Saudi polyolefins producer. Offers for HDPE Film, LDPE Film, and LLDPE Film C4 increased by $70/ton, $100/ton, and $80/ton respectively. All price changes were on a weekly comparison. Meanwhile, another Saudi producer increased the offers for LLDPE Film C4 by $70/ton compared to May shipment offers.

Buying sentiment reported subdued in the first three weeks of the month. Buyers were actively submitting inquiries, however, deals remained scarce. SSESSMENTS.COM was told that sufficient inventory on-hand, slow demand for the end-products, and fears of Coronavirus dampened buying sentiment for PE resins. The situation changed in the final week of the month. Buying sentiment for PE resins improved in-line with the increases of inquiries for converters’ end-products. Most converters were running at 80% of the normal capacity. On the supply front, most traders in the country were holding a low inventory level during the last week of the month. Traders preferred to procure on a hand-to-mouth basis to avoid any losses amid a lot of uncertainties in the market.

Despite PE prices and demand were crawling up week by week during May, Vietnamese market players are being sceptical that the uptrend would prolong until June. Once converters are done in restocking activities, demand will be back to a slow pace and cast a pressure on PE prices due to the lack of supporting factors, SSESSMENTS.COM was told. 

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

MonthlySSESSMENTS: April Vietnam PE Prices

WeeklySSESSMENTS: Vietnam PE Prices Week Starting May 4

WeeklySSESSMENTS: Vietnam PE Prices Week Starting May 11

WeeklySSESSMENTS: Vietnam PE Prices Week Starting May 18

WeeklySSESSMENTS: Vietnam PE Prices Week Starting May 25

Transactions for localized PE between May 1 to May 8, FD basis (including 10% VAT in VND term, excluding VAT in USD terms)

OriginProductTransaction TypeOffers (VND/ton)Equivalent in USD/tonDelivery Location
USAHDPE FilmOffer Given19,800,000772Ho Chi Minh
QatarHDPE FilmOffer Given20,000,000779Ho Chi Minh
SaudiLDPE FilmOffer Received24,000,000935Haiphong
SaudiLLDPE Film C4Offer Given20,500,000799Haiphong
SaudiLLDPE Film C4Offer Received21,000,000-21,500,000818-838Haiphong
South KoreaLLDPE Film C4Offer Received20,500,000799Haiphong
South KoreaLLDPE Film C4Buy Idea20,300,000-20,500,000791-799Haiphong
ThailandLLDPE Film C4Offer Given21,000,000818Haiphong

Transactions for import PE between May 1 to May 8 on LC at sight, CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)
North AmericaHDPE Blow MouldingOffer Received710-760
North AmericaHDPE Blow MouldingOffer Given700
North AmericaHDPE Blow MouldingBid Given730-740
North AmericaHDPE Blow MouldingSold700
Middle EastHDPE FilmOffer Received710-770*
Middle EastHDPE FilmOffer Given730
Middle EastHDPE FilmPurchased730-750
Southeast AsiaHDPE FilmOffer Received780
Southeast AsiaHDPE FilmSold730-740
North AmericaHDPE FilmOffer Received700-710
North AmericaHDPE FilmPurchased710
Middle EastHDPE PipeOffer Given880
Middle EastLDPE FilmOffer Received840-860*
Middle EastLDPE FilmOffer Given840
Middle EastLDPE FilmSold840
Southeast AsiaLDPE FilmOffer Received870
Middle EastLLDPE Film C4Sold690-730
Middle EastLLDPE Film C4Offer Received725-750
Middle EastLLDPE Film C4Offer Given750
Middle EastLLDPE Film C4Purchased720
Southeast AsiaLLDPE Film C4Offer Received750
Southeast AsiaLLDPE Film C4Sold730-740
North AmericaLLDPE Film C4Offer Received710
North AmericaLLDPE Film C4Purchased710
North AmericamLLDPE C6Offer Received980
Southeast AsiamLLDPE C6Offer Received980
Description: *Shipment from Singapore/Malaysia

Transactions for localized PE between May 11 to May 15, FD basis (including 10% VAT in VND term, excluding VAT in USD terms)

OriginProductTransaction TypeOffers (VND/ton)Equivalent in USD/tonDelivery Location
SaudiHDPE FilmOffer Received19,300,000-19,400,000752-756Haiphong
SaudiHDPE FilmBuy Idea20,500,000799Haiphong
SaudiHDPE FilmOffer Given20,800,000-20,900,000810-814Ho Chi Minh
USAHDPE FilmOffer Given20,300,000791Ho Chi Minh
ThailandHDPE FilmOffer Given22,300,000869Ho Chi Minh
SaudiLLDPE Film C4Offer Received22,500,000877Haiphong

Transactions for import PE between May 11 to May 15 on LC at sight, CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)
Far East AsiaHDPE Blow MouldingPurchased800
Far East AsiaHDPE FilmOffer Received800
Indian SubcontinentHDPE FilmOffer Received730
North AmericaHDPE FilmOffer Received720-760
North AmericaHDPE FilmOffer Given720-730
North AmericaHDPE FilmBid Received700
North AmericaHDPE FilmBuy Idea710-720
Middle EastHDPE FilmOffer Received740*-780
Middle EastHDPE FilmPurchased740*
Southeast AsiaHDPE FilmOffer Received780*-810
Middle EastLDPE FilmOffer Received860-880
Middle EastLDPE FilmOffer Given850
Middle EastLDPE FilmPurchased860
Middle EastLDPE FilmSold850
Southeast AsiaLDPE FilmOffer Given900
Southeast AsiaLDPE FilmOffer Received880-910*
Indian SubcontinentLLDPE Film C4Offer Received740
Middle EastLLDPE Film C4Offer Received730-770
Middle EastLLDPE Film C4Buy Idea660-670
Middle EastLLDPE Film C4Purchased740*-770
North AmericaLLDPE Film C4Offer Received720
North AmericaLLDPE Film C4Offer Given720-730
North AmericaLLDPE Film C4Bid Received700
Southeast AsiaLLDPE Film C4Offer Received810
Description: *Offers for June shipment

Transactions for localized PE between May 18 to May 22, FD basis (including 10% VAT in VND term, excluding VAT in USD terms)

OriginProductTransaction TypeOffers (VND/ton)Equivalent in USD/tonDelivery Location
ThailandHDPE Blow MouldingOffer Given23,000,000896Haiphong
Saudi ArabiaHDPE FilmOffer Given22,000,000-22,500,000857-877Ho Chi Minh
MalaysiaLDPE FilmOffer Given24,000,000-25,000,000935-974Haiphong
Saudi ArabiaLLDPE Film C4Offer Given21,000,000-22,500,000*818-877Haiphong
South KoreaLLDPE Film C4Sell Idea21,200,000-21,300,000826-830Haiphong
USALLDPE Film C4Offer Given20,000,000-20,500,000779-799Haiphong
USALLDPE Film C4Offer Received19,800,000-19,900,000772-775Haiphong
Description: *High-quality materials

Transactions for import PE between May 18 to May 22 on LC at sight, CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)
Far East AsiaHDPE FilmOffer Received780
Middle EastHDPE FilmOffer Received770**-780
Southeast AsiaHDPE FilmOffer Received790-820
Indian SubcontinentHDPE YarnOffer Received740
Middle EastLDPE FilmOffer Received860-880
Southeast AsiaLDPE FilmOffer Received910-920
Southeast AsiaLDPE FilmPurchased900-910*
Central & East EuropeLDPE FilmBuy Idea790
Far East AsiaLLDPE Film C4Offer Received810
Middle EastLLDPE Film C4Offer Received750**-770
North AmericaLLDPE Film C4Offer Received720
Southeast AsiaLLDPE Film C4Offer Received820
North AmericamLLDPE C6Sell Idea1,010
Description: *High-quality materials **Shipment from Singapore

Transactions for localized PE between May 25 to May 29, FD basis (including 10% VAT in VND term, excluding VAT in USD terms)

OriginProductTransaction TypeOffers (VND/ton)Equivalent in USD/tonDelivery Location
SaudiHDPE FilmOffer Received21,000,000-21,300,000818-830Haiphong
SaudiHDPE FilmOffer Received22,700,000885Ho Chi Minh
SaudiLDPE FilmOffer Received25,000,000-25,500,000974-994Haiphong
SaudiLDPE FilmOffer Given26,500,000994Ho Chi Minh
SaudiLDPE FilmOffer Received24,800,000-25,000,000966-974Ho Chi Minh
ThailandLDPE FilmOffer Given26,000,0001,013Ho Chi Minh
South KoreaLLDPE Film C4Offer Received21,000,000-21,500,000818-838Haiphong

Transactions for import PE between May 25 to May 29 on LC at sight, CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)
Middle EastHDPE Blow MouldingPrice List850
Middle EastHDPE Blow MouldingOffer Received850
Far East AsiaHDPE FilmOffer Received780
Middle EastHDPE FilmOffer Given800
Middle EastHDPE FilmOffer Received800-860
Middle EastHDPE FilmBuy Idea770-820
Middle EastHDPE FilmPurchased840-860
Middle EastHDPE FilmPrice List840-880
Southeast AsiaHDPE FilmOffer Received840
Southeast AsiaHDPE FilmOffer Given860
Southeast AsiaHDPE FilmSold840
Far East AsiaLDPE FilmOffer Received950
Middle EastLDPE FilmOffer Received960*
Middle EastLDPE FilmPurchased960*
Middle EastLDPE FilmPrice List960-1,000
Southeast AsiaLDPE FilmOffer Received940
Far East AsiaLLDPE Film C4Offer Received780
Far East AsiaLLDPE Film C4Purchased780
Middle EastLLDPE Film C4Offer Received800-850*
Middle EastLLDPE Film C4Bid Given750
Middle EastLLDPE Film C4Buy Idea770-820*
Middle EastLLDPE Film C4Price List850-870
SingaporeLLDPE Film C4Offer Given800
Description: *Shipped from Singapore/Malaysia

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

Published on June 3, 2020 9:24 AM (GMT+8)
Last Updated on June 3, 2020 9:24 AM (GMT+8)

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