Slow-Moving Tropical Storm Nakri Affects Import Cargoes Shipment To Vietnam
- Local, localized, and import offers remained stable
- A local producer drew less concern on the new Chinese competitors
- Shipment of import PVC cargoes has been delayed
The slow-moving tropical storm Nakri affects the shipment of import cargoes to the Vietnam market, sources told SSESSMENTS.COM. In the domestic market, a local producer released December delivery offers for ethylene-based PVC between VND20,800,000-21,000,000/ton ($894-902/ton) depending on the volume of purchases. The latest offer level captured stable compared to November. Most customers placed bids between VND100,000-400,000/ton ($4.3-17/ton) lower than the initial offer level. Another producer voiced out sell idea for December delivery between VND20,600,000-20,800,000/ton ($885-894/ton). Further added, the producer plans to announce the offer in the middle of this week. All offers are on cash, FD Vietnam basis and excluding 10% VAT. For localized cargoes, offers for Thai origin remain stable from a week earlier. In the import market, the latest offers from a Thai PVC producer showed a stable trend from the previous month at $840/ton on LC at sight, CIF Vietnam Main Port basis.
In general, the majority of market participants in Vietnam reported that demand for raw materials and end-products remains on a slippery slope over the week. However, a local producer informed SSESSMENTS.COM that demand from the company’s end is considered good and is expected to sustain until December. For the import market, the local producer drew less concern on the new Chinese competitors as demand for local materials is expected to still exist. Moreover, most import offers are only workable for the re-exporters, such as for Taiwanese cargoes. On the supply side, the shipment of import PVC cargoes to the country has been delayed as tropical storm Nakri moved across coastal areas from Da Nang to Khanh Hoa province.
For the outlook, Vietnamese market players expect that PVC prices will likely move further down due to weak demand, as cited by SSESSMENTS.COM.
*Offers on 15 days credit term
Tags: Asia Pacific,English,EN PVC VIETNAM WSS,Polyvinyl Chloride (PVC),Southeast Asia,Vietnam,WeeklySSESSMENTS PVC prices,Vietnam PVC pricesPublished on November 26, 2019 10:42 PM (GMT+8)
Last Updated on January 14, 2020 7:43 AM (GMT+8)