Vietnam PVC Market Suffers From Seasonal Slowdown
- Local offers for October shipment edged lower
- Latest import offers surfaced with a reduction
- No signs of improvement in demand
Market participants in Vietnam voiced out to SSESSMENTS.COM that the PVC market in the country still suffers from seasonal slowdown over the week. For October shipment, the latest local offers for ethylene-based PVC cargoes in Vietnam edged lower between VND300,0000-400,000/ton ($12.8-17/ton) compared to September. In the import market, October shipment offers for Japanese ethylene-based PVC cargoes emerged in the market with a reduction of $10-20/ton compared to the previous month. The latest import offers stood at $870/ton on LC at sight, CIF Vietnam Main Port basis. From the leading Taiwanese PVC producers, November shipment offers for ethylene-based cargoes to the Vietnam market surfaced with a reduction of $30/ton compared to October, captured at $810/ton on FOB basis. A discount of $10/ton is applicable for 500 tons and above.
In general, demand for PVC resins in Vietnam remains on a bearish tone over the week as seasonal slowdown prevails in the market. On the production front, several local converters are still running at a reduced rate on the back of slow demand for the end-products. On the supply side, SSESSMENTS.COM was informed that the inventory level for PVC in Vietnam remains ample at present.
Looking ahead, the majority of market players in Vietnam opined to SSESSMENTS.COM that domestic demand for PVC resins would remain slow in November.
Tags: Asia Pacific,English,EN PVC VIETNAM WSS,Polyvinyl Chloride (PVC),Southeast Asia,Vietnam,WeeklySSESSMENTS PVC prices,Vietnam PVC pricesPublished on October 15, 2019 8:42 PM (GMT+8)
Last Updated on January 14, 2020 7:43 AM (GMT+8)