Local Vietnam PVC Market Recorded Minimal Adjustment For November, Producers Explained The Reasons
- Local ethylene-based PVC offers slightly down by VND100,000/ton ($4.2/ton)
- Import ethylene-based PVC offers of Indonesia origin reduced by $20/ton
- PVC demand expected to improve in November
SSESSMENT.COM recorded a minimal adjustment for November shipment offers from Vietnamese PVC producers. In the local market, November delivery offers from the Vietnamese producers were only slightly down by VND100,000/ton ($4.2/ton) compared September. While others received offers with a decrease of VND200,000/ton ($8.5/ton) compared to the same period. Unlike the decrement for November shipment offers in the international market by $30/ton, the local producers decided to apply minimal decreases owing to limited availability and higher VCM prices. In the import market, ethylene-based PVC offers from a Thai producer stood at $850/ton on LC at sight, CIF Vietnam main port basis. Market talks have it that the deals were achieved at the same level as the initial offer. On the other hand, offers for PVC cargoes of Indonesia origin declined by $20/ton compared to September.
Overall, demand for PVC resins in the Vietnam market remained slow with players in a cautious mode, hence mostly keeping lean stocks due to slack demand for the end-products. Some traders lamented that even though the market should be in high season at this period of time, but still no sign yet for the demand to improve. On the supply side, SSESSMENTS.COM was informed that there are no significant issues reported in the country.
Looking ahead, market players believe that local demand for PVC resins would improve in November. Pertaining to the outlook for the prices, players opined to SSESSMENTS.COM that there is only a thin possibility for PVC prices to decrease further in the near term as VCM prices remain high. But for the long term, market players foresee a room of decrement ahead of New Year 2020 and Lunar New Year.
Tags: Asia Pacific,English,EN PVC VIETNAM WSS,Polyvinyl Chloride (PVC),Southeast Asia,Vietnam,WeeklySSESSMENTS PVC prices,Vietnam PVC pricesPublished on October 29, 2019 10:02 PM (GMT+8)
Last Updated on January 14, 2020 7:43 AM (GMT+8)