Coronavirus Outbreak Dampened Buying Sentiment In Vietnam, Players Expressed Mixed PE Prices Outlook
- Import PE offers recorded on an uptrend
- Coronavirus issue has dampened buying sentiment
- Demand expected to slower than last year
Vietnamese market participants informed SSESSMENTS.COM that the Coronavirus outbreak has dampened buying sentiment in the country. In the domestic market, offers for localized LLDPE Film C4 of Saudi origin remained stable compared to the offers before the holiday. While from the import market, a global trading house stated that offers for import PE cargoes of Saudi origin at the end of last week are still valid until this week as the market was not fully active during the holiday. Offers for import LDPE Film of Saudi origin increased by $30/ton compared to offer level available before the Lunar New Year holiday. While offers for HDPE Blow Moulding and HDPE Pipe Black (100) from the same origin remained stable compared to the same period. As for LLDPE Film C4, February shipment offers from a Saudi producer recorded at $110/ton higher compared to January shipment. The producer decided to increase the offers significantly as their supply is limited due to maintenance shutdown.
Overall PE demand in Vietnam is slow as most of the market players are just coming back from holiday. Moreover, the Coronavirus issue has dampened buying sentiment in the country. Most of the buyers prefer to wait and monitor the market before making any decisions. On the supply front, SSESSMENTS.COM was informed that PE supply is limited in the market, especially for LDPE Film materials.
Looking ahead, mixed opinions gained from the Vietnamese market players. Some of the market players opined to SSESSMENTS.COM that PE prices will remain firm on the back of limited supply. However, due to the Coronavirus outbreak, others believed that prices might decrease. As for demand, the market outlook is still hazy and demand may be lower than last year.
Tags: Asia Pacific,English,EN PE VIETNAM WSS,Polyethylene (PE),Southeast Asia,Vietnam,WeeklySSESSMENTS PE Prices,Vietnam PE pricesFebruary 6, 2020 3:18 PM