Vietnam’s local PVC market dips to more than 3-month low
Weakness in economic conditions, limited demand and the downturn across global PVC markets were cited as factors that pulled the Vietnamese market further down. Plus, a major Taiwanese producer’s decision to cut its November PVC offers visibly to the Asian markets was followed by several other regional producers, reinforcing the bearish sentiment.
A Vietnamese converter reported that November PVC offers they received from a local producer decreased by VND400,000/ton ($18/ton) when compared to last month. “Although demand for our end-products slightly improved through the year-end, we still keep our purchases limited to our urgent needs,” he added.
A compounder said, “Demand towards our end products has somewhat slowed when compared to last year. However, this is a general case for the market due to Vietnam’s weak economic performance. We are not planning to make any purchases from the local market despite attractive prices as we have previously covered some stocks from the import market.”
Another converter commented, “We are only purchasing based on our needs as we think prices have still room for further decreases.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- ABS prices see more-than-a-year low in Asia, Europe
- Styrene prices sink to multi-month lows in Asia and Europe
- European PET posts double-digit decreases for October
- PVC downturn gains pace in Asia on Taiwanese major’s larger-than expected drop
- Asian spot propylene regains premium over ethylene for first time since 2013
- Import LDPE, LLDPE prices almost back at par with ethylene in China
- Turkish players voice early PP, PE expectations for November
- Thin buying cushions impact of PVC shutdowns across Europe
- China’s PP market makes a strong start to post-holiday period
- Asian ethylene-naphtha spread narrows to 3-year low