Locally-held PP, PE prices move lower in Vietnam
A trader reported that they implemented a reduction of VND500,000/ton ($23/ton) on their domestic PE prices after a Middle Eastern producer cut their import offers to the country. He said, “We lowered our locally-held prices for Saudi Arabian origins in order to conclude deals. Demand remains sluggish and we are not planning to make large scale purchases nowadays.” The trader is now offering LLDPE film and HDPE film at VND33,500,000/ton FD Vietnam, cash including VAT ($1447/ton without VAT) and homo-PP raffia and injection at VND31,600,000-31,700,000/ton ($1501-1506/ton without VAT) with the same terms.
A shopping bag manufacturer stated that locally-held PE prices witnessed declines of around VND2,300,000/ton ($108/ton) after a Middle Eastern producer lowered their import prices to Vietnam. He reported that they were offered locally-held Saudi Arabian LLDPE film at VND32,500,000/ton FD Vietnam, cash inc VAT ($1404/ton without VAT) and HDPE film at VND31,000,000 with the same terms ($1339/ton without VAT). The buyer commented, “We are maintaining our cautious stance as we think that prices still have further room to decline as crude oil prices are not likely to stabilize in the near term.”
A distributor added, “Local prices are falling quickly due to strong resistance from buyers, who expect to see lower prices in line with the recent decreases in the import market.” The distributor is offering locally-held Saudi Arabian homo-PP raffia and injection at VND30,500,000/ton FD, cash inc VAT ($1449/ton without VAT).
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