Vietnam’s import and local PE markets reopen from Tet with fresh hikes

Vietnam’s PE market has resumed trading on a firmer footing after a week-long Tet holiday shutdown. Both import and domestic prices have entered a fresh uptrend, driven mainly by aggressive hikes from Middle Eastern producers amid ongoing supply limitations. Although trading activity has yet to fully normalize due to lingering holiday sluggishness, sentiment has turned decisively bullish, pointing to continued firmness in the near term.

Imports see elevated levels from Middle Eastern producers

According to traders, a major Saudi Arabian producer lifted its March PE offers to Vietnam with steep monthly increases of $60-100/ton across the three key film grades, with LLDPE film recording the sharpest adjustments. The producer’s March prices were set at $1110-1120/ton for LDPE film, $950-970/ton for LLDPE film, and $980/ton for HDPE film, all on a CIF Vietnam, cash basis.

The producer reportedly remains open to negotiations, with suggested bids at lower levels for all grades. While this indicates that actual deals may conclude below official offers—particularly for LDPE film—the aggressive stance is widely considered a signal of suppliers’ strengthened pricing power in Vietnam and across Southeast Asia. The move is likely to prompt other sellers to follow suit, reinforcing the firming trend that has been in place since early December 2025.

Meanwhile, another Saudi Arabian producer issued elevated LDPE film offers at $1100-1130/ton CIF Vietnam, cash, with the high end slightly above that of the major producer. The prevailing offers at higher ranges underscore producers’ stance in pushing prices upward amid a tightening supply landscape.

Local prices on strong note with slight increases

Mirroring the import market, domestic PE prices reopened with modest increases, extending the pre-holiday firmness. Early in the week, a trader in Ho Chi Minh City reported that local prices rose by approximately VND200,000-500,000/ton ($8-19/ton) following the holiday, in line with firmer import indications.

At the time of writing, initial offers stood at VND31,500,000-32,000,000/ton for LDPE film, VND26,300,000-26,800,000/ton for LLDPE film, and VND26,500,000-28,000,000/ton for HDPE film, all FD, cash. Although the adjustments were not steep, the direction is clearly upward, hinting at a bullish environment post-holiday.

Normal trading yet to resume, but upbeat sentiment prevails

Despite firmer pricing, trading activity remains subdued in the first week after Tet. Many market participants have only recently returned to work, while others are still on extended leave. Adding to the muted atmosphere is buyers’ comfortable inventory position. The trader in Ho Chi Minh City commented, “We prefer to purchase only when needed, as current price levels are too high for us to consider, particularly since our existing inventory will cover us through the end of April.”

Similarly, a converter noted, “Our factory only resumed operations on Monday. We secured sufficient raw materials to run throughout March, so we have not actively sought new offers following the holiday.” He added, “PE prices remain elevated, with some sellers sharply increasing their offers amid supply constraints. However, the market is still quiet, and normal trading activity is expected to resume next week.”

Nonetheless, the underlying tone remains firm. A Hanoi-based trader remarked, “Many market participants have yet to return, and activity may not fully resume until next week. Some sellers are holding back from making offers for now, as they anticipate further price increases.” The combination of restrained selling, surging import levels, and expectations of additional hikes suggests that once post-holiday demand gradually recovers, the market could see stronger upward momentum.