Upcoming New Year, Tet Festival Holidays Overshadowed Outlook For PVC Market In Vietnam
- Done deals for local PVC achieved at VND100,000/ton ($4/ton) lower
- Demand remains sluggish
- PVC prices predicted to decrease
Vietnamese market players opined that the upcoming New Year and Tet Festival holidays overshadowed the outlook for the PVC market in the country. In the local market, the December delivery offers for ethylene-based PVC from a local producer were stable compared to November delivery’s level. Sources added to SSESSMENTS.COM that the deals were concluded at VND100,000/ton ($4/ton) lower than the initial offer level with the number of purchases at 3,000 tons. In the import market, the deals for imported US ethylene-based PVC cargoes to the Vietnam market were concluded at $770/ton on LC at sight, CIF Vietnam Main Port basis.
In terms of demand, SSESSMENTS.COM was told that it remains unchanged from last week as most buyers prefer to keep their inventory at low levels over the year-end. However, a converter specializing in producing PVC plastic plates for building stated that the demand from the company’s end is quite satisfactory. On the supply side, there is no issue reported in the country.
Looking ahead, market players expressed an opinion with SSESSMENTS.COM that PVC price will most likely decrease in the near term as the demand is predicted to soften due to the upcoming New Year and Tet Festival holidays.
Tags: Asia Pacific,English,EN PVC VIETNAM WSS,Polyvinyl Chloride (PVC),Southeast Asia,Vietnam,WeeklySSESSMENTS PVC prices,Vietnam PVC pricesPublished on December 3, 2019 11:44 PM (GMT+8)
Last Updated on January 14, 2020 7:43 AM (GMT+8)