Chinese PP stays competitive in Vietnam
by Elif Sevde Yalçın - eyalcin@chemorbis.com
by Merve Sezgün - msezgun@chemorbis.com Players in Vietnam’s PP markets reported that they received slightly lower homo-PP offers from China this week.
A Vietnamese converter said that he was offered Chinese homo-PP raffia at $950/ton CIF, cash. “Offers from China are down by about $10-20/ton from last week. Meanwhile, we hear that deals are concluded even below this level. We are not planning to make any fresh purchases for now, as we have enough stocks. Demand post-Chinese New Year is on the rise, showing slight improvement compared to the previous year.”
Offers for other origins, including South Korea and the Middle East, are currently reported at $980-1030/ton CIF Vietnam, cash. Middle Eastern suppliers have been trying to sustain a firm stance on their offers due to tighter availabilities.
A trader based in China also noted, “China’s local market is quite competitive compared to import offers. Sellers are focusing on exports due to a combination of attractive local prices and tepid demand at home. However, export demand has faltered, with customers in Southeast Asia showing resistance to our price levels. Hence, we’ve made slight reductions in offers this week in response to market conditions.”
A Vietnamese converter said that he was offered Chinese homo-PP raffia at $950/ton CIF, cash. “Offers from China are down by about $10-20/ton from last week. Meanwhile, we hear that deals are concluded even below this level. We are not planning to make any fresh purchases for now, as we have enough stocks. Demand post-Chinese New Year is on the rise, showing slight improvement compared to the previous year.”
Offers for other origins, including South Korea and the Middle East, are currently reported at $980-1030/ton CIF Vietnam, cash. Middle Eastern suppliers have been trying to sustain a firm stance on their offers due to tighter availabilities.
A trader based in China also noted, “China’s local market is quite competitive compared to import offers. Sellers are focusing on exports due to a combination of attractive local prices and tepid demand at home. However, export demand has faltered, with customers in Southeast Asia showing resistance to our price levels. Hence, we’ve made slight reductions in offers this week in response to market conditions.”
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