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...
- PE and PVC imports from US flooding Europe
- Indonesia’s polyolefin markets sustain uptrend
- Asian PVC markets shaken by sharp fall in Taiwanese major’s Apr pricing
- March PE prices take split paths in Africa, Mid-East
- Asian PS markets touch 4-month high amid volatile styrene
- Turkey’s PP market attracts deep-sea origins at 4-month high
- European ABS rebounds from 3-year low
- Firming persists in Vietnam’s PE market, shrugging off ethylene
- European styrene continues to climb up, Asia remains cautiously firm
- PP market up from a year-low in Europe; yet hikes beyond C3 see resistance