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QuarterlySSESSMENTS: Q2 2020 Vietnam PE Prices

Author: SSESSMENTS

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  • Localized and import PE offers in Vietnam mostly captured on an uptrend in Q2 2020
  • Overall PE demand in Vietnam was sluggish during the quarter
  • Room for PE prices to increase further in Q3 2020 is limited

During April, some deals for localized PE cargoes from several origins were recorded in the Vietnam market. For localized Saudi HDPE Film and LLDPE Film C4, deals achieved at VND21,800,000/ton ($935/ton) and between VND20,000,000-22,000,000/ton ($858-944/ton), respectively. While deals for LLDPE Film C4 of South Korea origin concluded at VND21,200,000/ton ($1,000/ton). At the beginning of May, 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, the offers were hiked by VND1,000,000/ton ($43/ton) in the following week due to the rebound in crude oil prices. Likewise, compared to the beginning of May, offers for localized Saudi HDPE Film and localized South Korean LLDPE Film C4 increased between VND700,000-800,000/ton ($30-34/ton). Meanwhile, localized Saudi LLDPE Film C4 offers moved up by VND100,000/ton ($4/ton) on the monthly comparison. Approaching the end of May, another increment of VND500,000/ton ($21/ton) on weekly comparison was applied for localized LLDPE Film C4 of South Korea origin due to limited supply at the traders’ end. Entering June, PE prices in the domestic market gained support from the firm import PE offers. SSESSMENTS.COM noted that localized Saudi HDPE Film offers were adjusted up with a total increment of VND1,200,000/ton ($51/ton). Likewise, offers for localized LDPE Film of Malaysia origin were up by VND 1,000,000/ton ($43/ton) compared to offers at the beginning of June. 

From imports, in April, a Saudi PE producer adjusted down HDPE Film and LLDPE Film C4 offers by $100/ton on the monthly comparison. While in the last week of April, the leading Saudi polyolefins producer announced May shipment offers for HDPE Film at $70/ton higher compared to April shipment. In contrast, May shipment offers for LLDPE Film C4 from the producer decreased by $10/ton compared to the same period. While in May, June shipment offers for HDPE Film and LDPE Film from a Malaysian polyolefins producer surfaced in the Vietnam market with an increment of $20/ton and $50/ton, respectively compared to May shipment. While in June, the Malaysian producer applied another upward adjustment for HDPE Film and LDPE Film for July shipment offers with an increment of $50/ton and $10/ton, respectively. While for Middle Eastern cargoes, several Middle Eastern producers maintained firm offers for HDPE Film, LDPE Film, and LLDPE Film C4 due to limited allocation at their end. For other PE grades, SSESSMENTS.COM’s pricing database showed that offers for mLLDPE C6 of US origin dropped by $30/ton at the beginning of May. In contrast, offers for HDPE Pipe (PE 100) from a Thai producer increased by the same amount in June.

Overall PE demand in Vietnam was sluggish in the second quarter of 2020. Buyers preferred to delay the procurement activities due to the sufficient inventory on-hand, slow finished product demand and market uncertainties amid the Coronavirus pandemic. Moreover, deliveries of materials were disrupted as several cities were closed after the Vietnamese government implemented a nationwide lockdown from April 1 until April 22, with the extended lockdown in some areas with a high risk of infections. However, in the final week of May, buying sentiment was improved in-line with the increases of inquiries for converters’ end-products. Unfortunately, the situation did not last long. In June, as PE prices in the market continued to increase, buyers showed resistance towards the prices. Besides, due to unsatisfactory end-product demand, most converters were only running at 40-60% of the normal production rate. On the supply front, most traders were keeping low inventory levels from the end of May until the first half of June to avoid losses amid the uncertain market, SSESSMENTS.COM was told.

Looking ahead, Vietnamese market players believe that PE price in Q2 2020 has reached its peak; hence, room for further increases in Q3 is limited. While for demand, PE demand is expected to remain sluggish in line with slow finished product demand coupled with the rainy season, which will intensify in July and August, as stated to SSESSMENTS.COM.

Transactions for localized PE in April on FD basis (including 10% VAT in VND term, all equivalent in USD excluding VAT)

OriginProductTransaction TypeOffers (VND/ton)Equivalent in USD/tonPayment TermDelivery Location
ThailandHDPE Blow MouldingPurchased21,200,000827Cash In AdvanceHo Chi Minh
ThailandHDPE Blow MouldingPurchased25,000,00097530 Days Credit TermHo Chi Minh
SaudiHDPE FilmPurchased21,800,000850Cash In AdvanceHaiphong
ThailandHDPE FilmOffer Received19,700,000768Cash In AdvanceHo Chi Minh
SaudiLLDPE Film C4Purchased19,800,000772Cash In AdvanceHaiphong
SaudiLLDPE Film C4Purchased20,000,000-22,000,000780-858Cash In AdvanceHo Chi Minh
South KoreaLLDPE Film C4Purchased21,200,000827Cash In AdvanceHaiphong

Transactions for import PE in April on LC at sight/TT

OriginProductTransaction TypeOffers (USD/ton)Payment TermDelivery Term
Middle EastHDPE Blow MouldingBid Received680-700LC at sightCIF
Middle EastHDPE Blow MouldingOffer Given710-740LC at sightCIF
Middle EastHDPE Blow MouldingOffer Received820LC at sightCIF
North AmericaHDPE Blow MouldingBid Received620-650LC at sightCIF
North AmericaHDPE Blow MouldingOffer Given680-700LC at sightCIF
North AmericaHDPE Blow MouldingOffer Received690-700LC at sightCIF
North AmericaHDPE Blow MouldingPurchased690-700LC at sightCIF
Central AsiaHDPE FilmPurchased665LC at sightCIF
Indian SubcontinentHDPE FilmOffer Given750LC at sightCIF
Middle EastHDPE FilmBid Given680LC at sightCIF
Middle EastHDPE FilmBid Received700LC at sightCIF
Middle EastHDPE FilmBuy Idea600LC at sightCIF
Middle EastHDPE FilmOffer Given710-780LC at sightCIF
Middle EastHDPE FilmOffer Received700-770LC at sightCIF
Middle EastHDPE FilmPrice List740LC at sightCIF
Middle EastHDPE FilmPurchased700-710LC at sightCIF
Middle EastHDPE FilmSold700LC at sightCIF
North AmericaHDPE FilmBid Given750LC at sightEXW
North AmericaHDPE FilmBid Received670-700LC at sightCIF
North AmericaHDPE FilmOffer Given700-770LC at sightCIF
North AmericaHDPE FilmOffer Received690-740LC at sightCIF
North AmericaHDPE FilmOffer Received700-790LC at sightEXW
North AmericaHDPE FilmPurchased680LC at sightCIF
North AmericaHDPE FilmSell Idea690-710LC at sightCIF
North AmericaHDPE FilmSold710LC at sightCIF
Southeast AsiaHDPE FilmOffer Given820*-840LC at sightCIF
Southeast AsiaHDPE FilmOffer Received760*-825LC at sightCIF
Southeast AsiaHDPE Pipe (PE 100)Buy Idea820-830LC at sightCIF
Southeast AsiaHDPE Pipe (PE 100)Offer Received860-930LC at sightCIF
Indian SubcontinentHDPE YarnBuy Idea720LC at sightCIF
Indian SubcontinentHDPE YarnOffer Given750LC at sightCIF
Indian SubcontinentHDPE YarnOffer Received740LC at sightCIF
Southeast AsiaHDPE YarnOffer Given790LC at sightCIF
Southeast AsiaHDPE YarnOffer Received790LC at sightCIF
Indian SubcontinentLDPE FilmOffer Given810LC at sightCIF
Indian SubcontinentLDPE FilmOffer Received840-860LC at sightCIF
Middle EastLDPE FilmBid Received820-850LC at sightCIF
Middle EastLDPE FilmOffer Given860LC at sightCIF
Middle EastLDPE FilmOffer Received860**LC at sightCIF
Middle EastLDPE FilmPurchased930LC at sightCIF
Middle EastLDPE FilmSold820LC at sightCIF
North AmericaLDPE FilmOffer Received850LC at sightCIF
Southeast AsiaLDPE FilmOffer Given840-980LC at sightCIF
Southeast AsiaLDPE FilmOffer Received850-900LC at sightCIF
Southeast AsiaLDPE FilmSold840-850LC at sightCIF
Far East AsiaLLDPE Film C4Offer Received760LC at sightCIF
Indian SubcontinentLLDPE Film C4Offer Given720-760LC at sightCIF
Indian SubcontinentLLDPE Film C4Offer Received730-750LC at sightCIF
Indian SubcontinentLLDPE Film C4Sell Idea720LC at sightCIF
Middle EastLLDPE Film C4Bid Given770LC at sightCIF
Middle EastLLDPE Film C4Buy Idea700LC at sightCIF
Middle EastLLDPE Film C4Offer Given790LC at sightCIF
Middle EastLLDPE Film C4Offer Received700-790**LC at sightCIF
Middle EastLLDPE Film C4Offer Received720-730LC at sightCIP
Middle EastLLDPE Film C4Price List740LC at sightCIF
Middle EastLLDPE Film C4Purchased730-770LC at sightCIF
Middle EastLLDPE Film C4Sold740-750LC at sightCIF
North AmericaLLDPE Film C4Bid Received670-680LC at sightCIF
North AmericaLLDPE Film C4Offer Given700-740LC at sightCIF
North AmericaLLDPE Film C4Offer Received690-720LC at sightCIF
North AmericaLLDPE Film C4Purchased710-720LC at sightCIF
North AmericaLLDPE Film C4Sell Idea690-700LC at sightCIF
North AmericaLLDPE Film C4Sold690-710LC at sightCIF
Southeast AsiaLLDPE Film C4Offer Received750*LC at sightCIF
Southeast AsiaLLDPE Film C4Purchased770TTCIF
North AmericamLLDPE C6Offer Received1,010-1,020**LC at sightCIF
Southeast AsiamLLDPE C6Offer Given830LC at sightCIF
Southeast AsiamLLDPE C6Offer Received1,010-1,020LC at sightCIF
Description: *May shipment offers, **Shipment from Malaysia/Singapore

Transactions for localized PE in May on cash, FD basis (including 10% VAT in VND term, all equivalent in USD excluding VAT)

OriginProductTransaction TypeOffers (VND/ton)Equivalent in USD/tonDelivery Location
ThailandHDPE Blow MouldingOffer Given23,000,000897Haiphong
QatarHDPE FilmOffer Given20,000,000780Ho Chi Minh
SaudiHDPE FilmBuy Idea20,500,000800Haiphong
SaudiHDPE FilmOffer Received19,300,000-21,300,000753-831Haiphong
SaudiHDPE FilmOffer Given20,800,000-22,500,000811-878Ho Chi Minh
SaudiHDPE FilmOffer Received22,700,000886Ho Chi Minh
ThailandHDPE FilmOffer Given22,300,000870Ho Chi Minh
USAHDPE FilmOffer Given19,800,000-20,300,000772-792Ho Chi Minh
MalaysiaLDPE FilmOffer Given24,000,000-25,000,000936-975Haiphong
SaudiLDPE FilmOffer Received24,000,000-25,500,000936-995Haiphong
SaudiLDPE FilmOffer Given26,500,0001,034Ho Chi Minh
SaudiLDPE FilmOffer Received24,800,000-25,000,000967-975Ho Chi Minh
ThailandLDPE FilmOffer Given26,000,0001,014Ho Chi Minh
SaudiLLDPE Film C4Offer Given20,500,000-22,500,000800-878Haiphong
SaudiLLDPE Film C4Offer Received21,000,000-22,500,000819-878Haiphong
South KoreaLLDPE Film C4Buy Idea20,300,000-20,500,000792-800Haiphong
South KoreaLLDPE Film C4Offer Received20,500,000-21,500,000800-839Haiphong
South KoreaLLDPE Film C4Sell Idea21,200,000-21,300,000827-831Haiphong
ThailandLLDPE Film C4Offer Given20,000,000-21,000,000780-819Haiphong
USALLDPE Film C4Offer Received19,800,000-19,900,000772-776Haiphong

Transactions for import PE in May on CIF Vietnam Main Port basis

OriginProductTransaction TypeOffers (USD/ton)Payment Term
Far East AsiaHDPE Blow MouldingPurchased800LC at sight
Middle EastHDPE Blow MouldingOffer Received850LC at sight
Middle EastHDPE Blow MouldingPrice List850LC at sight
North AmericaHDPE Blow MouldingBid Given730-740LC at sight
North AmericaHDPE Blow MouldingOffer Given700LC at sight
North AmericaHDPE Blow MouldingOffer Received730**LC 45 days
North AmericaHDPE Blow MouldingOffer Received710-760LC at sight
North AmericaHDPE Blow MouldingSold700LC at sight
Far East AsiaHDPE FilmOffer Received780-800LC at sight
Indian SubcontinentHDPE FilmOffer Received730LC at sight
Middle EastHDPE FilmBuy Idea770-820**LC at sight
Middle EastHDPE FilmOffer Given730-800LC at sight
Middle EastHDPE FilmOffer Received710-860LC at sight
Middle EastHDPE FilmPrice List780-880LC at sight
Middle EastHDPE FilmPurchased710-860LC at sight
North AmericaHDPE FilmBid Received700LC at sight
North AmericaHDPE FilmBuy Idea710-720LC at sight
North AmericaHDPE FilmOffer Given720-730LC at sight
North AmericaHDPE FilmOffer Received700-780*LC at sight
Southeast AsiaHDPE FilmOffer Given860LC at sight
Southeast AsiaHDPE FilmOffer Received780-840LC at sight
Southeast AsiaHDPE FilmSold730-840LC at sight
Indian SubcontinentHDPE YarnOffer Received740LC at sight
Central & East EuropeLDPE FilmBuy Idea790LC at sight
Far East AsiaLDPE FilmOffer Received950LC at sight
Middle EastLDPE FilmOffer Given840-850LC at sight
Middle EastLDPE FilmOffer Received840-960**LC at sight
Middle EastLDPE FilmPrice List960-1,000LC at sight
Middle EastLDPE FilmPurchased860*-960LC at sight
Middle EastLDPE FilmSold840-850LC at sight
Southeast AsiaLDPE FilmOffer Given900LC at sight
Southeast AsiaLDPE FilmOffer Received870-940LC at sight
Southeast AsiaLDPE FilmPurchased900-910LC at sight
Far East AsiaLLDPE Film C4Offer Received780-810LC at sight
Far East AsiaLLDPE Film C4Purchased780LC at sight
Indian SubcontinentLLDPE Film C4Offer Received740LC at sight
Middle EastLLDPE Film C4Bid Given750LC at sight
Middle EastLLDPE Film C4Buy Idea660-820**LC at sight
Middle EastLLDPE Film C4Offer Given750LC at sight
Middle EastLLDPE Film C4Offer Received725-850**LC at sight
Middle EastLLDPE Film C4Price List770-870LC at sight
Middle EastLLDPE Film C4Purchased720-770LC at sight
Middle EastLLDPE Film C4Sold690-730LC at sight
North AmericaLLDPE Film C4Bid Received700LC at sight
North AmericaLLDPE Film C4Offer Given720-730LC at sight
North AmericaLLDPE Film C4Offer Received710-720LC at sight
North AmericaLLDPE Film C4Purchased710LC at sight
Southeast AsiaLLDPE Film C4Offer Given800LC at sight
Southeast AsiaLLDPE Film C4Offer Received750-820LC at sight
Southeast AsiaLLDPE Film C4Sold730-740LC at sight
North AmericamLLDPE C6Offer Received980LC at sight
North AmericamLLDPE C6Sell Idea1,010LC at sight
Southeast AsiamLLDPE C6Offer Received980LC at sight
Description: *June shipment offers, **Shipment from Malaysia/Singapore

Transactions for localized PE in June on FD basis (including 10% VAT in VND term, all equivalent in USD excluding VAT)

OriginProductTransaction TypeOffers (VND/ton)Equivalent in USD/tonPayment TermDelivery Location
SaudiHDPE Blow MouldingOffer Given23,500,000917Cash In AdvanceHo Chi Minh
ThailandHDPE Blow MouldingOffer Given24,000,000936Cash In AdvanceHaiphong
ThailandHDPE Blow MouldingOffer Received21,000,000819Cash In AdvanceHo Chi Minh
ThailandHDPE Blow MouldingPurchased21,000,000819Cash In AdvanceHo Chi Minh
ThailandHDPE Blow MouldingPurchased21,000,00081915 Days Credit TermHo Chi Minh
ThailandHDPE Blow MouldingSell Idea23,000,000-28,000,000897-1,092Cash In AdvanceHo Chi Minh
SaudiHDPE FilmOffer Given22,300,000-23,500,000870-917Cash In AdvanceHo Chi Minh
ThailandHDPE FilmSell Idea26,500,000-27,000,0001,034-1,053Cash In AdvanceHaiphong
ThailandHDPE FilmOffer Received20,500,000-24,000,000800-936Cash In AdvanceHo Chi Minh
USAHDPE FilmOffer Received20,500,000800Cash In AdvanceHo Chi Minh
MalaysiaLDPE FilmOffer Given25,400,000-27,500,000*991-1,073Cash In AdvanceHo Chi Minh
SaudiLDPE FilmOffer Given25,000,000-25,500,000975-995Cash In AdvanceHaiphong
SaudiLDPE FilmOffer Given25,500,000-27,500,000*995-1,073Cash In AdvanceHo Chi Minh
South KoreaLDPE FilmSell Idea26,000,000-26,200,0001,014-1,022Cash In AdvanceHaiphong
ThailandLDPE FilmOffer Given26,000,000-27,000,0001,014-1,053Cash In AdvanceHaiphong
ThailandLDPE FilmOffer Given26,500,000-27,000,000*1,034-,1053Cash In AdvanceHo Chi Minh
SaudiLLDPE Film C4Offer Given23,000,000-23,500,000897-917Cash In AdvanceHaiphong
SaudiLLDPE Film C4Offer Received23,000,000-23,500,000897-917Cash In AdvanceHaiphong
SaudiLLDPE Film C4Purchased23,000,00089760 Days Credit TermHaiphong
SaudiLLDPE Film C4Sell Idea23,300,000909Cash In AdvanceHaiphong
SaudiLLDPE Film C4Sold23,500,000917Cash In AdvanceHaiphong
SaudiLLDPE Film C4Offer Given23,000,000897Cash In AdvanceHo Chi Minh
SaudiLLDPE Film C4Offer Received22,500,000-23,500,000**878-917Cash In AdvanceHo Chi Minh
SaudiLLDPE Film C4Purchased22,200,000*866Cash In AdvanceHo Chi Minh
South KoreaLLDPE Film C4Offer Given23,000,000897Cash In AdvanceHaiphong
USALLDPE Film C4Offer Given24,500,000956Cash In AdvanceHo Chi Minh
Description: *June delivery offers, **July delivery offers

Transactions for import PE to Vietnam in June on LC at sight

OriginProductTransaction TypeOffers (USD/ton)Delivery Term
Middle EastHDPE Blow MouldingOffer Given790-850CIF
Middle EastHDPE Blow MouldingOffer Received800-840*CIF
Middle EastHDPE Blow MouldingPurchased800-870CIF
North AmericaHDPE Blow MouldingOffer Given825-840CIF
North AmericaHDPE Blow MouldingSold810CIF
Southeast AsiaHDPE Blow MouldingBid Given860CIF
Southeast AsiaHDPE Blow MouldingOffer Received890-920*CIF
Southeast AsiaHDPE Blow MouldingPurchased860CIF
Far East AsiaHDPE FilmOffer Given885CIF
Far East AsiaHDPE FilmOffer Received880-910CIF
Indian SubcontinentHDPE FilmOffer Received840-880CIF
Middle EastHDPE FilmOffer Given850CIF
Middle EastHDPE FilmOffer Received820-935*CIF
Middle EastHDPE FilmOffer Received900CIP
Middle EastHDPE FilmPurchased830-870CIF
Middle EastHDPE FilmSold830CIF
North AmericaHDPE FilmOffer Given830-840CIF
North AmericaHDPE FilmOffer Received800-850CIF
North AmericaHDPE FilmPurchased800**-880**CIF
North AmericaHDPE FilmSold900**CIF
Southeast AsiaHDPE FilmOffer Given900-910CIF
Southeast AsiaHDPE FilmOffer Received820-880*CIF
Southeast AsiaHDPE FilmSell Idea850-870CIF
Southeast AsiaHDPE FilmSold910CIF
Far East AsiaHDPE Pipe (PE 100)Offer Received1,050*CIF
Middle EastHDPE Pipe (PE 100)Offer Received950CIF
Southeast AsiaHDPE Pipe (PE 100)Offer Received950-980CIF
Southeast AsiaHDPE Pipe (PE 100)Purchased940CIF
Far East AsiaHDPE YarnOffer Received895*CIF
Indian SubcontinentHDPE YarnOffer Given880-890CIF
Indian SubcontinentHDPE YarnOffer Received850*-855CIF
Indian SubcontinentHDPE YarnPrice List855CFR
Indian SubcontinentHDPE YarnSold855CFR
Southeast AsiaHDPE YarnPurchased870CIF
Central & East EuropeLDPE FilmOffer Given960-970CIF
Far East AsiaLDPE FilmOffer Received950*-1,040*CIF
Middle EastLDPE FilmOffer Given880**-930CIF
Middle EastLDPE FilmOffer Received910-1,020*CIF
Middle EastLDPE FilmPurchased880-910CIF
Middle EastLDPE FilmSold880-930CIF
Southeast AsiaLDPE FilmOffer Given900-950CIF
Southeast AsiaLDPE FilmOffer Received910*-990CIF
Southeast AsiaLDPE FilmPurchased900-990CIF
Southeast AsiaLDPE FilmSold900CIF
Far East AsiaLLDPE Film C4Offer Received880-910CIF
Indian SubcontinentLLDPE Film C4Offer Received840-850CIF
Middle EastLLDPE Film C4Bid Given890CIF
Middle EastLLDPE Film C4Offer Given850-870CIF
Middle EastLLDPE Film C4Offer Received810-930*CIF
Middle EastLLDPE Film C4Offer Received880-930CIP
Middle EastLLDPE Film C4Purchased830**-870CIF
Middle EastLLDPE Film C4Sold870CIF
North AmericaLLDPE Film C4Buy Idea750-760CIF
North AmericaLLDPE Film C4Offer Given800**-830CIF
North AmericaLLDPE Film C4Offer Received800-870CIF
North AmericaLLDPE Film C4Sold800-810CIF
Southeast AsiaLLDPE Film C4Offer Given860-900CIF
Southeast AsiaLLDPE Film C4Offer Received860-940CIF
Southeast AsiaLLDPE Film C4Purchased800CIF
Southeast AsiaLLDPE Film C4Sell Idea850-870CIF
Description: *July shipment offers, **Shipment from Malaysia/Singapore

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

Published on July 8, 2020 7:39 PM (GMT+8)
Last Updated on July 8, 2020 7:39 PM (GMT+8)

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