28 May 2024
Meanwhile, the demand for PE in Vietnam has started to dwindle as the market enters the traditionally off-peak season while converters struggling to transfer the costs to end-product buyers.
28 May 2024 SPVC k67-68 SPVC (A) k67-68
Across the Asian market, players keep a close eye on the bullish development in China while gauging the possible pricing direction for July shipment offers.
The local market experienced muted buying activity as most industry participants, having placed sufficient orders yesterday, chose to remain on the sidelines.
It was evident that local buyers eagerly rushed to place bids, seizing the opportunity presented by the stable auction prices amid a backdrop of producers maintaining a strong stance in the spot market.
27 May 2024
Initial responses among Southeast Asian buyers are rather subdued. Higher export offers coupled with the surging shipping costs make it more expensive for overseas buyers
The Vietnamese LDPE film market registered a drastic surge this week after a major Saudi Arabia producer introduced $140 – 150/ton hike on June shipment offers compared to last month’s list price.
As reported earlier, Chinese buyers believed that local suppliers are growingly facing inventory pressure citing the current stock levels are way above the psychological threshold of 800,000 tons.
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