Local PE market in Vietnam open new week with increases

According to market players, local traders in Vietnam start the new week by lifting their PE offers by VND400,000-500,000/t ($18-22/t) compared to last week on the back of firmer upstream costs and limited supply.

A trader said, “Trading activities in domestic market have pick up considerably this week and we decided to increase our PE offers by VND400,000/t ($18/t) from last week as we are not having much quantity in hand. Last week we purchased Middle East LLDPE film at $1120-1130/t FCA Vietnam, LC AS term, however the allocation is really small. Our supplier informed that they might increase their offers again this week.”

A converter purchased three containers of Middle East HDPE film at VND27,900,000/t ($1137/t without VAT) and LLDPE film at VND28,700,000/t ($1170/t without VAT) FD Vietnam, including VAT added, “We just received new offers for locally held Middle East LLDPE film offer at VND500,000/t ($22/t) higher than last week as our suppliers claim to have limited supply. We think that prices might move higher this week following the international trend. We have purchased sufficient material at the moment, hence prefer to be on the side-line to monitor further movement.”

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