Vietnam’s PVC Demand And Prices Would Only Be Able To Rebound After Tet Holiday
- Deals for local PVC cargoes captured at VND100,000/ton ($4.3/ton) lower than the initial offer
- One of the local producers has sold all the allocation for December delivery
- PVC price and demand expected to soften ahead of Tet holiday (Vietnamese Lunar New Year)
Vietnam’s PVC demand and prices would only be able to rebound after the Tet Holiday (Vietnamese Lunar New Year), Vietnamese market players stated to SSESSMENTS.COM. In the domestic market, one of the local PVC producers was offering to the southern part of the country at VND20,500,000/ton ($883/ton) on cash, FD Ho Chi Minh basis and excluding 10% VAT. Meanwhile, offers to the northern part were at VND300,000/ton ($12.9/ton) higher due to the higher delivery cost, as the producer’s plant is located in the southern part. Done deals for the cargoes captured at VND100,000/ton ($4.3/ton) lower than the initial offer level. In the import market, SSESSMENTS.COM noted that offers for ethylene-based PVC cargoes of Taiwan origin stood at $820/ton on LC 90 days, CIF Vietnam main port basis.
Demand for PVC resins in Vietnam remains unchanged from last week. A Vietnamese PVC pipe manufacturer stated that demand has decreased by 10% as compared to last month. The upcoming year-end and Tet holidays (Vietnamese Lunar New Year) have pushed buyers to the sidelines. On the supply front, one of the local ethylene-based PVC producers in the country stated to SSESSMENTS.COM that the company has already sold out all the allocation for December delivery.
Looking ahead, most of Vietnamese PVC market participants believe that demand will remain subdued and would only be able to improve after the Tet holiday (Vietnamese Lunar New Year). Hence, local and import PVC prices are expected to be stable to softer in the days to come, SSESSMENTS.COM was told.
Tags: Asia Pacific,English,EN PVC VIETNAM WSS,Polyvinyl Chloride (PVC),Southeast Asia,Vietnam,WeeklySSESSMENTS PVC prices,Vietnam PVC pricesPublished on December 10, 2019 8:37 PM (GMT+8)
Last Updated on January 14, 2020 7:43 AM (GMT+8)