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PP, PE players in Vietnam continue to prefer local market to imports

  • 18/10/2017 (08:52)
Players operating in Vietnam’s PP and PE markets reported that local prices remain more competitive than imports. This has been pushing buyers to source from the local markets, where a softening trend has been in place since late September albeit on a needs-only basis.

A PP converter operating in the packaging industry noted, “We think the prevailing import market levels are still high. For now, we prefer to source our needs from the local market. We will wait for prices to fall further in order to build some stocks.”

Another PP, PE converter said, “We haven’t made any purchases from the import market for a long time considering the high price levels. Local prices have been softening on a weekly basis. We think there is room for further decreases in the local market and we will wait until the import market moves back to the $1100/ton level in order to replenish stocks.”

A third converter commented, “Demand is quite slow in the local market and prices are lower than imports. We want to make purchases from the import market, but prices are still too high. We expect prices to move lower in the following weeks and reach the $1080/ton level in November.”

Meanwhile, as was already noted in ChemOrbis Plastics News Local PE prices move below imports in Vietnam , HDPE supplies are also tight in Vietnam and Southeast Asian markets as well.

Similarly, a PE converter operating in Vietnam’s packaging industry also reported that local offers they received for HDPE film are higher than LLDPE film and attributed this to the limited supplies for HDPE. “It is more reasonable to source from the local market considering the fact that they are offering a more competitive edge than imports,” he added.