PET Demand Compelled Vietnamese Converters To Adjust Production Rate
- Localized Taiwanese PET offers down between VND300,000-400,000/ton ($13-17/ton)
- Import offers of various origins moved in the same direction
- Demand is expected to improve in November
As contacted by SSESSMENTS.COM’s team, market players stated that the demand for PET Bottle in Vietnam compelled converters to adjust the production rate. In the local market, offers for localized PET Bottle of Taiwan origin decreased between VND300,000-400,000/ton ($13-17/ton) from the previous week. Similarly, import offers for PET Bottle of various origins to Vietnam market moved in the same direction. Import offers for PET Bottle of China and Indonesia origin decreased between $20-30/ton while for Taiwan origin, offers were down by $20/ton, all compared to last week.
According to market players contacted by SSESSMENTS.COM, the demand for PET Bottle in the country is sluggish due to slow-sales for finished products and sufficient inventory levels on hand. Most converters in Vietnam reported had to reduce the operating rate due to the slow demand, new competitors in the market, and an increase in environmental tax. In terms of supply, there is no issue reported in the country.
Looking ahead, the majority of market players predict that PET prices will be stable or slightly decreased. Demand-wise, players opined to SSESSMENTS.COM that it would improve in early November in line with the preparation for the Lunar New Year.
Tags: Asia Pacific,English,EN PET VIETNAM WSS,Polyethylene Terephthalate (PET),Southeast Asia,Vietnam,WeeklySSESSMENTS PET prices,Vietnam PET pricesPublished on October 4, 2019 7:25 PM (GMT+8)
Last Updated on January 14, 2020 7:43 AM (GMT+8)