Domestic PVC Demand In Vietnam Unaffected By Coronavirus Outbreak Outside China
- A local PVC producer increased March delivery offers by VND200,000/ton ($8.5/ton)
- AGC Chemicals Vietnam planned to shut PVC unit from March 26 to April 10
- Relatively tight supply from the local producer expected to support demand
Vietnamese market players informed SSESSMENTS.COM that the demand from the producers’ end is unaffected by the Coronavirus outbreak outside China. For March delivery, the offers for ethylene-based PVC from a local producer surfaced with an increase of VND200,000/ton ($8.5/ton) compared to February delivery’s level. The offers were deemed acceptable and done deals closed at the initial offer level. From the import market, the offers for Chinese acetylene-based PVC cargoes to Vietnam increased between $5-10/ton from a fortnight ago. While for import ethylene-based PVC of Thailand origin, the deals were concluded at $20-25/ton lower from the initial offer level announced last week.
According to market sources report to SSESSMENTS.COM, demand from the producers’ end remains satisfactory compared to February. A local producer stated that customers’ response remains positive as still managed to move cargoes. There is no impact from the intensified Coronavirus outbreak outside China on Vietnam PVC market so far. On the production sector, AGC Chemicals Vietnam Co., Ltd planned to shut its PVC plant with a capacity of 150,000 tons/year from March 26 until April 10 for maintenance purposes. Due to this, the allocation for March delivery from the producer will be slightly tighter than usual.
Looking ahead, the majority of the market players are unsure of the near-term outlook due to many uncertainties in the market stemming from the Coronavirus outbreak inside and outside China. However, the relatively tight supply from the local producer due to upcoming maintenance is expected to support PVC demand in the days to come, as cited by SSESSMENTS.COM.
Tags: Asia Pacific,English,EN PVC VIETNAM WSS,Polyvinyl Chloride (PVC),Southeast Asia,Vietnam,WeeklySSESSMENTS PVC prices,Vietnam PVC pricesPublished on March 3, 2020 10:18 PM (GMT+8)
Last Updated on March 3, 2020 11:50 PM (GMT+8)