Import PET to Vietnam softened, sluggish demand might persist

It is reported that couple of overseas suppliers have implement a small reduction of $10/ton on import PET offers to Vietnam this week as demand in the country remain weak. Currently, offers are ranging at $1040-1100/ton CIF Vietnam, LC AS term.

A trader commented, “We are willing to offer additional discounts for purchases at large quantity. Demand is so weak and we have not been able to achieve sales targets for October.”

Other suppliers are expressing similar disappointment in sales results despite limited supply for Thai origin cargoes and firming energy values in recent days. “It is the monsoon season in Vietnam at the moment, hence end product demand is relatively weak. We expect to see better trading activities by second half of November as preparation for the Lunar New Year is the highest demand point in the country,” a converter added.