Vietnamese Market Players Count On Lunar New Year Celebration To Lift PET Demand
- Local and import PET Bottle offers decreased over the week
- Demand for PET remains sluggish
- PET demand expected to improve at the latest next month
Vietnamese market players expect that the demand for PET should have improved in line with the preparation of Lunar New Year in the country, SSESSMENTS.COM was told. However, the offers for local PET Bottle reduced by VND100,000/ton ($4/ton) over the week with the done deals achieved at the initial offer level. In comparison to last week, from the import market offer for PET Bottle of China and Indonesia origin also decreased by $15/ton and $5/ton respectively. Sources added that the deals for Indonesian and Thailand cargoes were concluded between $10-15/ton lower from the initial offer level. While for Chinese cargoes, the deals were concluded between $5-10/ton lower.
As reported by market sources to SSESSMENTS.COM, the demand for PET in the country is supposed to increase in November in line with the preparation of Tet Holiday (Vietnamese New Year). However, there is no sign of improvement recorded so far and the demand remains sluggish. On the supply side, there is no issue reported in the country.
Looking ahead, market sources predict that the demand should improve at the latest next month in line with the preparation for Tet Holiday and lead to price increases. However, other sources opined to SSESSMENTS.COM that the market situation is still cloudy for now.
Tags: Asia Pacific,English,EN PET VIETNAM WSS,Polyethylene Terephthalate (PET),Southeast Asia,Vietnam,WeeklySSESSMENTS PET prices,Vietnam PET pricesPublished on November 8, 2019 7:18 PM (GMT+8)
Last Updated on January 14, 2020 7:43 AM (GMT+8)