Vietnamese PET Sellers Explore Sales Strategy Amid The Prolonged Price Trend
- Local and import PET prices in Vietnam still on the downtrend
- Traditional peak season turns into risky momentum
- Restocking activities expected to be seen after Tet Holiday
Vietnamese PET sellers explore several sales strategies amid the prolonged downward trend in prices, as cited by SSESSMENTS.COM. For the week commencing November 25, offers for local PET Bottle available between VND22,100,000-22,200,000/ton ($951-955/ton) on cash, FD Vietnam basis and including 10% VAT. However, the deals could be concluded between VND300,000-400,000/ton ($12.9-17.2/ton) lower than the initial offer level. While in the import market, SSESSMENTS.COM noted that import PET Bottle offers of China, Indonesia, and Thailand origin edged down by $5/ton as compared to last week’s level. In an attempt to secure some deals for import cargoes, a trader is willing to provide payment terms on LC up to 120 days.
Demand for local and import PET Bottle cargoes reported sluggish. The traditional peak season for Tet Holiday preparation turns into a risky momentum to make fresh purchases as PET prices remain on a downtrend. Additionally, the sufficient inventory on hand that could cover the production activity up to two months and the depreciation of local currency towards the US Dollar had pushed buyers to the sidelines. Buyers remained unmoved, although traders have applied attractive sales strategies. No supply issues reported by Vietnamese market players to SSESSMENTS.COM.
Looking ahead, Vietnamese market players stated that the chance for PET prices to rebound remains slim. Demand-wise, the fresh purchases are expected to be seen after the Tet Holiday (Vietnamese Lunar New Year) since, during that particular time, converters are predicted to have a low inventory level, as stated to SSESSMENTS.COM.
Tags: Asia Pacific,English,EN PET VIETNAM WSS,Polyethylene Terephthalate (PET),Southeast Asia,Vietnam,WeeklySSESSMENTS PET prices,Vietnam PET pricesPublished on November 29, 2019 9:41 PM (GMT+8)
Last Updated on January 14, 2020 7:43 AM (GMT+8)