Vietnamese Market Players Predicted Current PET Price Trend Would Last Until Lunar New Year
- Local PET Bottle offers recorded stable to decrease
- A trader made an upward price adjustment on import PET Bottle offers of several origins
- PET Bottle prices predicted to remain on the soft note until the Lunar New Year
Vietnamese market players stated to SSESSMENTS.COM that the current PET Bottle price trend is predicted to last until Lunar New Year. On a weekly comparison, local PET Bottle offers in Vietnam market recorded stable to decrease. Some producers maintain the offer stable, with done deals achieved at VND21,800,000/ton ($937/ton) on cash, FD Ho Chi Minh basis and including 10% VAT. While another producer decreased the local offers between $20-30/ton as compared to a fortnight ago. In the import market, offers for PET Bottle of China, Indonesia, and Thailand origin via a trader surfaced at $10/ton higher as compared to last week’s level. Despite the price increment, the trader still provides a room for negotiation and willing to give a discount to customers who buy in a certain quantity.
The overall demand for PET Bottle remains on the soft note. Restocking activities has yet to be seen in the market as buyers are comfortable with the current inventory levels and prefer to procure on a hand-to-mouth basis. Additionally, slow sales for the end products have also dampened demand for PET resins. On the supply front, no significant issues reported by Vietnamese market players to SSESSMENTS.COM.
Looking ahead, most of the Vietnamese market players believe that PET Bottle prices would not be able to increase until the Lunar New Year. While in terms of demand, it is so hard to predict as there are so many uncertainties in the market, players told SSESSMENTS.COM.
Tags: Asia Pacific,English,EN PET VIETNAM WSS,Polyethylene Terephthalate (PET),Southeast Asia,Vietnam,WeeklySSESSMENTS PET prices,Vietnam PET pricesPublished on December 13, 2019 7:59 PM (GMT+8)
Last Updated on January 14, 2020 7:43 AM (GMT+8)