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Vietnamese producer lifts local PVC offers for Aug

by ChemOrbis Editorial Team -
  • 27/07/2020 (10:52)
A source from a Vietnamese producer reported that they have revealed August PVC offers to the local market with increases from July, following the footsteps of a major Taiwanese producer who announced offers for August shipment with increases of $20/ton to Asian markets two weeks ago.

The Vietnamese producer lifted its local PVC K67 offers by VND700,000-1,300,000/ton ($30-56/ton) from July to VND20,500,000/ton ($888/ton) on ex-warehouse, cash basis.

“Buyers are reluctant to accept the prevailing price levels as they are deemed too high. Demand in the domestic market is weak due to the rainy season and fears over a second-wave of COVID-19 infections. Therefore, we think the uptrend is unlikely to continue in the near term.”

For July, the producer had also increased its offers by VND2,200,000-2,400,000/ton ($95-103/ton).

Following the successive monthly hikes, the weekly average of PVC K67 prices on FD Vietnam basis has hit its highest level since mid-March, data from ChemOrbis Price Wizard suggest.
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