Vietnamese PET Buyers Uninterested In Making Purchases Despite Price Adjustments
- Local PET Bottle offers remain stable, import offers were adjusted
- Buyers have sufficient inventory for production until December
- Market players believe that PET prices will be adjusted down further in the upcoming weeks
Vietnamese PET buyers were uninterested in making purchases despite the price adjustments. Market players informed SSESSMENTS.COM that offers from a local PET producer remain stable compared to last week. However, import PET offers from China and Indonesia were adjusted down by $5/ton and $10/ton, respectively, compared to the same period. Market players further commented that although crude oil prices continue to increase, there are no impacts on PET Bottle prices up to recently. Instead, the movement of PET prices follows the movement of MEG prices.
The Vietnam PET market remains slow this week despite the adjustments on prices. Buyers cited that inventory is sufficient for production until December as last month when prices were at lower levels, buyers had secured cargoes. A converter told SSESSMENTS.COM that so far, demand for the end products in September and October is the lowest in 2019. No supply issues were reported.
The majority of the market players opined to SSESSMENTS.COM that PET prices will be adjusted down further in the upcoming weeks. However, some others believe that considering the current low levels, prices might not decrease, but stable as increases are also not likely to happen due to the weak demand.
Tags: Asia Pacific,English,EN PET VIETNAM WSS,Polyethylene Terephthalate (PET),Southeast Asia,Vietnam,WeeklySSESSMENTS PET prices,Vietnam PET pricesPublished on October 25, 2019 7:51 PM (GMT+8)
Last Updated on January 14, 2020 7:43 AM (GMT+8)