Vietnamese Sellers: Done Deals Remain Scarce Amid Current PE Price Trend
- Localized and import offers moved in the same direction
- Done deals remained scarce
- Local and import PE prices predicted to remain firm
Market players reported to SSESSMENTS.COM that done deals remain scarce amid the current PE price trend in Vietnam. In comparison to a week earlier, sources informed that the offers for localized Saudi HDPE Film increased between VND700,000-800,000/ton ($30-34/ton). For import HDPE Film of Thailand origin, the offers edged higher by $10/ton on a weekly comparison following the uptrend in the international market. Sources added that the offers for import HDPE Film cargoes from the leading Saudi polyolefins producer were stable to firmer by $20/ton from last week. While for South Korean origin, the offers for HDPE Film are available at $780/ton on LC at sight, CIF Vietnam Main Port basis.
For the week commencing May 18, the offers for localized US LLDPE Film C4 were stable to firmer by VND500,000/ton ($21/ton) compared to a week earlier. For LLDPE Film C4 of Saudi origin, the offers were captured higher by VND700,000/ton ($30/ton) from a fortnight ago. While on a monthly comparison, the offers for Saudi LLDPE Film C4 increased by VND100,000/ton ($4/ton). Likewise, the offers for localized LDPE Film cargoes of Malaysia origin increased by VND500,000/ton ($21/ton) from last week. From the import market, the offers for LDPE Film and LLDPE Film C4 from the leading Saudi polyolefins producer were reportedly stable to increase around $30-40/ton. For Thailand origin, an increment of $10/ton from a week earlier was captured for LDPE Film and LLDPE Film C4 offers. Other than that, SSESSMENTS.COM was told that Vietnamese buyers voiced out buy ideas for Turkey LDPE Film cargoes at $790/ton on LC at sight, CIF Vietnam Main Port basis.
Although there is a slight improvement recorded, done deals for PE in Vietnam remain scarce. Some sellers stated that some buyers still have sufficient inventory on hand, while some others revealed that it is difficult to conclude deals as the company is only dealing with small-scale customers. Other than that, demand for finished products remains slow, which may be due to the fear of Coronavirus pandemic, hence, citizens still limiting outdoor activities despite the lifted lockdown. On the supply side, there are no issues reported by market players to SSESSMENTS.COM.
Pertaining to the outlook, the majority of Vietnamese market players expressed an opinion to SSESSMENTS.COM that local and import PE prices will most likely remain stable to firmer following the improvement in market sentiment on the back of stronger energy and ethylene prices. However, the increases would be limited as the done deals in the market remain scarce.
Click below to view related stories and content on Vietnam PE:
NewsSSESSMENTS: Turkey Producer Mulls Over Selling PE Cargoes To Vietnam Market
NewsSSESSMENTS: Vietnamese Trader Foresees Positive Outlook For PE, PP Market Following Customers Responses
NewsSSESSMENTS: Vietnamese Buyers Waiting For Further Market Development After Latest Import Offers Surfaced
WeeklySSESSMENTS: Vietnam PE Prices Week Starting May 11
Localized PE offers on cash, FD basis (including 10% VAT in VND term, excluding VAT in USD term)
| Origin | Product | Transaction Type | Offers (VND/ton) | Equivalent in USD/ton | Delivery Location |
|---|
| Thailand | HDPE Blow Moulding | Offer Given | 23,000,000 | 892 | Haiphong |
| Saudi Arabia | HDPE Film | Offer Given | 22,000,000-22,500,000 | 853-872 | Ho Chi Minh |
| Malaysia | LDPE Film | Offer Given | 24,000,000-25,000,000 | 930-969 | Haiphong |
| Saudi Arabia | LLDPE Film C4 | Offer Given | 21,000,000-22,500,000* | 814-872 | Haiphong |
| South Korea | LLDPE Film C4 | Sell Idea | 21,200,000-21,300,000 | 822-826 | Haiphong |
| USA | LLDPE Film C4 | Offer Given | 20,000,000-20,500,000 | 775-795 | Haiphong |
| USA | LLDPE Film C4 | Offer Received | 19,800,000-19,900,000 | 768-771 | Haiphong |
Description: *High-quality materials
Import PE offers on LC at sight, CIF Vietnam Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) |
|---|
| Far East Asia | HDPE Film | Offer Received | 780 |
| Middle East | HDPE Film | Offer Received | 770**-780 |
| Southeast Asia | HDPE Film | Offer Received | 800-820 |
| Indian Subcontinent | HDPE Yarn | Offer Received | 740 |
| Middle East | LDPE Film | Offer Received | 860-880 |
| Southeast Asia | LDPE Film | Offer Received | 910-920 |
| Southeast Asia | LDPE Film | Purchased | 900-910* |
| Central & East Europe | LDPE Film | Buy Idea | 790 |
| Far East Asia | LLDPE Film C4 | Offer Received | 810 |
| Middle East | LLDPE Film C4 | Offer Received | 750**-770 |
| North America | LLDPE Film C4 | Offer Received | 720 |
| Southeast Asia | LLDPE Film C4 | Offer Received | 820 |
Description: *High-quality materials **Shipment from Singapore
Tags: Asia Pacific,English,PE,SEA,Vietnam,Weekly
Published on May 21, 2020 2:15 PM (GMT+8)
Last Updated on May 21, 2020 3:57 PM (GMT+8)
