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Vietnamese converters: Local PET moves higher on tightness

by ChemOrbis Editorial Team -
  • 14/11/2017 (10:07)
According to players in Vietnam, local PET prices have increased due to reduced supply levels as well as the bullish outlook in China.

A bottle manufacturer received higher PET offers at VND27,800,000-28,000,000/ton FD Vietnam, cash including VAT ($1122-1130/ton without VAT). “Domestic PET prices firmed up since limited supplies put pressure on the market. Demand towards our end products remains good,” commented the buyer.

A second Vietnamese converter said, “Local prices moved higher by around VND500,000/ton ($22/ton) from last week, particularly for PET. Sellers justified their firmer stance by pointing to reduced supplies in the local market. We continue to see good demand from our customers as the high season has begun. However, we might consider limiting our PET purchases as the current offer levels are quite high.”

In Vietnam, the overall range for local PET prices is currently reported at VND27,800,000-28,500,000/ton FD, cash ($1122-1150/ton without VAT).
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