Vietnam PP market 02/2019 has witnessed a slight increase
The overall trend in Southeast Asia shows that suppliers have approached the homo-PP import market in Vietnam with a slight increase this week
While suppliers approached the imported homo-PP market in Vietnam with a slight increase this week, Indonesian companies received their first March offers from the regional supplier. A Thai manufacturing company raised homo-PP raffia prices in Vietnam by USD10 / ton compared to the pre-holiday rate of USD1150 / ton CIF.
A Vietnamese trading company also said that the Saudi Arabian raffia offer price was up by USD20 / ton to USD1120 / ton CIF. He said: "Our supplier refused to accept the proposed price lower than USD1100 / ton. We have no plans to import goods at this time because we have added goods to the warehouse before the holidays. Moreover, we are considering the developments of the US-China trade talks. ”
In Indonesia, a Southeast Asian producer kept the PP offering in March from the previous month. Meanwhile, homo-PP raffia and injection ranges were USD1070-1160 / ton CIF, paid immediately, up USD20 / ton at the peak set by a regional manufacturer's March offer compared to last week, while the bottom remained the same.
As for local markets in the region, an Indonesian producer kept stable local PP prices in the following week. In the Philippines, a finished product manufacturer said that the homo-PP offer they received from domestic producers went flat compared to mid-January. In Thailand, a trading company said domestic PP prices remained stable. "Good demand and abundant supply," he said.
In Vietnam, trading companies reported that domestic homo-PP prices increased slightly. Southeast Asian PP companies are waiting for more March offers from local and regional producers for the remainder of this month. Preliminary prediction is mainly aimed at constant prices. Companies are also monitoring market sentiment in China, ongoing US-China trade talks and rising crude oil prices. According to ChemOrbis Price Wizard, the price of two world standard oil lines has been currently the highest since the first half of November 2018.
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