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Local PP, PE prices step back as supply loosens in Vietnam

by ChemOrbis Editorial Team - content@chemorbis.com
  • 19/03/2015 (18:19)
Players in Vietnam report that prices for locally-held PP and PE cargoes have stepped back from last week’s heights as the arrival of some fresh cargoes has helped to ease supply concerns. “We lowered our prices by VND1,000,000/ton ($47/ton) for PP and by VND500,000/ton ($24/ton) for PE as some previously purchased cargoes have begun to arrive in the market. The recent losses in crude oil prices also encouraged us to step back on our prices and we feel that import prices are also likely to moderate in the coming weeks,” a distributor stated.

Another distributor added, “We lowered our prices for locally-held PP while maintaining our PE prices in accordance with stronger spot ethylene costs. Demand from the local market is muted and we are not planning to make any fresh purchases until the cargoes we secured last week arrive.”

Prices for locally-held cargoes currently stand at VND30,500,000-32,000,000/ton ($1314-1379/ton without VAT) for homo-PP injection and raffia, at VND30,500,000/ton ($1314/ton without VAT) for LDPE film, at VND30,500,000-31,500,000/ton ($1314-1357/ton without VAT) for LLDPE film and at VND30,500,000-31,000,000/ton ($1314-1336/ton without VAT) for HDPE film, all FD Vietnam, cash equivalent basis inc VAT.
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