Import PET prices firm up in Vietnam
A bottle manufacturer reported that a South Korean producer has lifted their PET prices by $40/ton, bringing their new offers to $1000-1020/ton CIF Vietnam, cash. The buyer commented, “PET producers are seeking to increase their prices owing to the PX explosion in China. However, we think that the current upward trend will not be sustainable over the medium term. Hence, we are planning to purchase only a small amount in order to cover our urgent needs.”
Meanwhile, a trader reported that they lifted their offers for Taiwanese origins by $55/ton to $1000/ton CIF Vietnam, cash while they are also planning to issue increases of around $20-30/ton on their offers for Malaysian cargoes, bringing their new sell ideas to $1020-1030/ton with the same terms. “Our customers are not showing great interest in our new offers yet. We are monitoring the market for now,” he stated.
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