Import PET prices continue to climb in Vietnam
He commented, “Asian PET markets have been pushed higher by the explosion at China’s Dragon Aromatics’ PX plant. However, demand is still not strong and buyers are showing some resistance to higher levels.”
A bottle manufacturer reported that their South Korean supplier raised their prices to $1050/ton CIF Vietnam, cash. The buyer stated that demand for their end products is regular yet they are not planning to replenish stocks for the near term.
Meanwhile, a source from a Chinese producer reported that their PET offers to Southeast Asia currently stand at $1080/ton on a CIF SEA, cash basis. When compared to the most recent offer levels reported from the same producer at the end of March, the producer’s new prices represent increases of around $110-120/ton. “Buyers are reluctant to purchase at higher levels. However, we still feel that prices will continue to follow a firm trend over the short term,” the source stated.
In Vietnam, overall import PET bottle prices are currently reported at $1000-1080/ton on a CIF Vietnam, cash equivalent basis.
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