More re-export PE, PP cargoes show up in Vietnam

As the week proceed, Vietnamese buyers reported to have received more offers for PE and PP cargoes from various origins to be re-exported from China market. However, in spite of the promptness of the cargoes, buyers in the country do not appear to be attracted to the offers due to high prices.

Similar to cargoes offered earlier this week, Saudi Arabia, USA, Brazil HDPE and LLDPE film are amongst the origin available, ranging from 1250-1260/ton CIF Vietnam, TT in advance term. While, Saudi’s homo-PP re-export offer stands at $1160/ton with the same term

A trader informed, “We received offers from three different Chinese suppliers at the similar price range. However, Vietnamese buyers are not ready to accept such high offers for PE cargoes, especially HDPE film. China market is a bit weak this week, and if demand in this market pick up in the coming day, it would stimulate buying interest in Vietnam.”