Print

Domestic traders in Vietnam are attempting to increase their LLDPE film prices by VND200,000-300,000/ton ($9-13/ton) compared to last week, mostly due to the depreciation of the Vietnamese dong recently. Although demand has yet to improve drastically, many reported seeing better condition from last week.

A trader offers locally held Saudi’s LLDPE film cargoes at VND30,700,000 ($1238/ton without VAT), FD Vietnam, cash term said, “Buyers are asking for previous prices, however, we hold firm on our offers. The only threat to our attempt is the recent price reduction from one of the major Middle Eastern producers.”

A converter said, “Demand for our end product is good and we plan to replenish some cargoes to meet production need. Domestic market firmed up due to currency depreciation, we might source material from import ground this time.”

Meanwhile, larger scale stockists are still holding their offers stable and this might undermine local trader’s effort in lifting prices. Hope for better demand condition during year end period is now stronger than ever.