South Korean producer lifted PP, PE prices to Vietnam

As most international suppliers have lifted August shipment offers to Vietnam this week, in line with improved buying interest in nearby China market and tightened overall supply, a major South Korean maker has also lifted PP and PE prices by $30-40/ton. Latest price list from the producer stand at $1150/ton for HDPE and LLDPE film and at $1120/ton for homo-PP yarn, all based on CIF Vietnam, LC AS term.

Vietnamese buyers are not ready to accept such rapid hike and therefore a certain degree of resistance shown up, however, the maker prefer to hold firm stance, refusing any price negotiation. A local buyer commented, “The producer is very firm on the cargoes, hence we switch to source some Thailand cargoes, which are priced at much more competitive levels. We think the market is lacking of strong push to increase any further, hence we prefer to be cautious.”