Vietnam's domestic LDPE film surged on supportive international market

Vietnamese players reported that domestic LDPE film market has surged VND500,000-700,000/ton ($22-31/ton) compared to last week due to sudden improved demand condition and increasing offers from international suppliers.

A trader sold locally held Southeast Asia LDPE film parcels at VND32,500,000/ton ($1280/ton without VAT) said, “Domestic ground here started to feel the impact of strong demand in nearby China market, hence many people are searching for material in anticipating further increases. We sell LDPE film very well today while other grades are just normal.”

Another player added, “Most international suppliers have also lifted their prices near to $1300/ton threshold though market acceptance toward this levels is very low. Most buyers are searching for material in domestic market now, which allowed us to lift offers. Our concern is about the sustainability of this trend as ethylene costs continue to weaken and China seem loosing appetite for the upper end of the overall price range.”

Domestic LDPE film in Vietnam reported on the first trading of the week at VND31,300,000-31,500,000/ton ($1275-1280/ton without VAT), FD Vietnam, cash term.