Sales Pressure Offers Grim Warning For Vietnamese PVC Market
- Local and import offers were mostly on a downtrend
- Demand remains subdued over the week
- Sales pressure is expected to shore down PVC prices
SSESSMENTS.COM’s data showed that sales pressure offers a grim warning for the Vietnamese PVC market toward the end of 2019. In the domestic market, November delivery prices for ethylene-based PVC from a producer continue on a downward trajectory month-on-month. The latest offers surfaced with a reduction of VND400,000/ton ($17/ton). Some converters voiced out that prices from local producers are still sky-high, hence prefer to keep tabs on market development in anticipation of lower prices in the near term. From the import market, import ethylene-based PVC cargoes of US origin slid between $30-40/ton. All offers are compared to October.
In general, sources told SSESSMENTS.COM that the Vietnam PVC market remains on a negative track over the week, citing the slow demand for the end-products and bearish buying sentiment due to a trade feud between the US and China. For end-products, demand remains subdued in general, even slower compared to the same period last year. On the supply front, no issues reported at the moment in the domestic market.
In terms of outlook, the majority of market players in Vietnam believe that local PVC prices would move further down toward the end of the year due to sales pressure from the sellers’ end. Demand-wise, no sign of improvement seen in the near term, 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 November 5, 2019 10:25 PM (GMT+8)
Last Updated on January 14, 2020 7:43 AM (GMT+8)