- The movement in local PET Bottle prices was varied during September
- Demand during the month was subdued
- Uncertain outlook due to volatile market
On the week commencing September 2, SSESSMENTS.COM’s team noted that the offers for PET Bottle recorded stable to decrease. Local PET Bottle offers dropped by VND500,000/ton ($21/ton) while the offers for localized Taiwanese cargoes recorded stable. Moving to the second week of the month, the offers for PET Bottle from the local producer decreased between VND200,000-500,000/ton ($8.5-21/ton) on a weekly comparison. During the third week of September, the offers for PET Bottle from a local producer increased by VND1,000,000/ton ($43/ton), however, considering the situation at the moment, traders decided to only raise the offers by VND300,000/ton ($13/ton) from a week earlier. Sources stated that the local offers for PET Bottle were kept stable in the following week.
Initially, during the first week of September, the import offers for PET Bottle of Taiwan origin to the country were captured stable. However, on Thursday, market talks have it that offers for Taiwanese PET cargoes increased by $10/ton. While the import offers of China and Indonesia origin decreased between $10-20/ton and by $5/ton, respectively. Moving to the following week, import offers for Chinese PET Bottle increased by $10/ton over the week. However, in the middle of the week, a local distributor increased the offers for Chinese PET Bottle by $15/ton compared to the offer level at the beginning of the week. While the import offers of Indonesia origin trimmed by $20/ton from the prior week, SSESSMENTS.COM was told.
By the third week of the month, import offers for Chinese PET Bottle hiked up between $30-60/ton while the offers for Taiwanese cargoes moved up between $30-40/ton. Similarly, offers for Indonesian and Thai cargoes increased between $50-65/ton and $50-60/ton, respectively. All price changes on a weekly comparison. However, on September 18, offers for Chinese cargoes moved down by $20/ton compared to the previous day. Sources added to SSESSMENTS.COM that the import offers for PET Bottle of China and Indonesia origin reduced between $10-50/ton and by $20/ton, respectively on the week commencing September 23.
According to market players contacted by SSESSMENTS.COM, the demand for PET during September was slow as buyers were having sufficient inventory on hand. Moreover, buyers were showing resistance towards the offer levels. On the supply front, there were no issues reported in the country during September.
Pertaining to the outlook, the majority of Vietnamese market players shared an opinion with SSESSMENTS.COM on the uncertainty in demand movement due to the volatile market and the prices would most likely move even lower.
Tags: Asia Pacific,English,EN PET Vietnam MSS,MonthlySSESSMENTS,Polyethylene Terephthalate (PET),Southeast Asia,Vietnam PET prices,Vietnam PET pricesOctober 18, 2019 6:40 PM