Market sources informed SSESSMENTS.COM that the PS market in Vietnam is enjoying robust demand despite the Coronavirus pandemic. Following the uptrend on monomer and crude oil prices, a local PS producer decided to increase the offers for GPPS Injection in domestic and to export market by $10/ton from last week. Meanwhile, a converter revealed that the offers for import Taiwanese GPPS Injection decreased by $5/ton on the weekly comparison. Although the buy idea for Taiwanese GPPS Injection is around $20-30/ton lower from the initial offer level, the converter opined that it will be difficult to bid down considering the uptrend in SM price.
Another converter added to SSESSMENTS.COM that the deals for import Thai GPPS Injection were concluded at $20/ton lower from the initial offer level. While for GPPS Injection of South Korea and Singapore origin, the offers at $880/ton and $900/ton respectively were deemed too high, hence, there was no deal concluded as the converter was even unwilling to place bids.
As reported to SSESSMENTS.COM, the demand for PS in the domestic market is considered healthy. A converter added that the company’s cookies and candies boxes sales are improving week by week although it is not the peak season. Further added, the peak season usually takes place around the year-end holiday and especially before the Tet Holiday.
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Local/localized PS offers on cash, FD Vietnam basis (including 10% VAT in VND term, excluding VAT in USD term)
| Origin | Product | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton |
|---|
| Vietnam | GPPS Injection | Offer Given | USD | 890-910 | - |
| Singapore | HIPS Injection | Offer Received | VND | 24,000,000 | 931 |
Import PS offers on LC at sight, CIF Vietnam Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Singapore | GPPS Injection | Offer Received | 900 |
| South Korea | GPPS Injection | Offer Received | 880 |
| Taiwan | GPPS Injection | Offer Received | 855 |
| Taiwan | GPPS Injection | Buy Idea | 825-835 |
| Thailand | GPPS Injection | Offer Received | 850 |
| Thailand | GPPS Injection | Purchased | 830 |
| Taiwan | HIPS Injection | Offer Received | 930 |
| Thailand | HIPS Injection | Offer Received | 940-950 |
Export PS offers on LC at sight, FOB Vietnam basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Vietnam | GPPS Injection | Offer Given | 850 |
Tags: Asia Pacific,English,Freemium,News,SEA,Styrenics,Vietnam
Published on May 22, 2020 5:54 PM (GMT+8)
Last Updated on October 1, 2020 4:43 PM (GMT+8)
