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Vietnamese traders: Local PP and PE prices move higher Vietnamese traders: Local PP and PE prices move higher  |
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Vietnamese traders on the first trading day of the week, attempted to lift domestic PP and PE prices in line with strong energy market and firmer international offers. Demand from converter, however, remain disappointed though hope for improvement is rather strong.
A trader reportedly lifted offers for all PP and PE cargoes to local buyers by VND200,000/ton ($9/ton) compared to last week said, “Domestic traders are very active is asking for offers, yet buy ideas and bids are low. We believed that buyers would eventually accept the new levels considering the demand condition in the nearby China market.”
Another trader added, “We are trying to implement some small hike to recoup the high cost cargoes purchased previously, however, it seems difficult. We hope China market remains resilient in the near term, which in turn can support the general sentiment in Southeast Asia market.”
Buyers in the country are still very cautious with fresh purchases on the belief that the coming cargoes arrival would pressure the local ground again.