Vietnam’s domestic PE market firmed visibly on Tuesday as crude oil surged past $90/barrel and fresh Middle Eastern import offers emerged with steep price hikes and onerous logistical clauses.
Global crude benchmarks surged more than 2.5% on Monday, with Brent breaching the $90-a-barrel threshold as a near-total halt in Strait of Hormuz vessel transits and hardening diplomatic rhetoric between Washington and Tehran intensified global supply deficit concerns.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 7,947 +129 | 7,789 +164 | 4,744 +35 |
| Close (USD/ton) | 1,043 +19 | 1,023 +24 | 623 +5 |
| Volume | 413,815 +85094 | 297,281 +71223 | 693,085 +154158 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 8,376 +172 | 5,838 +108 | 4,653 +136 |
| Close (USD/ton) | 1,100 +26 | 767 +16 | 986 +20 |
| Volume | 161,083 +4714 | 710,009 +146362 | 188,963 -133146 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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