Local PP, PE prices in Vietnam gain ground

Players in Vietnam informed that local PP and PE prices marched higher at the beginning of the week with the support from firmer upstream costs and limited supply from international sellers.

A trader lifted locally held Saudi Arabia PE cargoes by VND300,000-400,000/t ($13-18/t) to VND28,300,000/t for HDPE film and VND29,600,000/t for LLDPE film, all on FD Vietnam including VAT, cash term. The source said, “Local HDPE market is weaker than other grades, hence we could not manage to increase the offer too high. Buyers are accepting the new price levels with the support from firmer ethylene costs and we think this trend might sustain for the rest of the month.”

The PP market has also regain its ground after a brief trading session seeing some discounts emerged last week. A trader offered Middle East homo-PP yarn and injection at VND24,000,000-24,400,000/t ($978-995/t without VAT) FD Vietnam, said, “We sold some cargoes at the lower end of the range and we think market might need time to accept the higher range level. Supply in local market is not as tight as previous weeks thanks to a large number of cargoes arrived main port these two week. We think that PP market is having little room to increase further, however, we do not expect any significant hike in the coming days.”

Please refer to the Daily Price section on www.commoplast.com for detailed import and local prices to/in China and Southeast Asia market.