Vietnam's Nghi Son started offering commercial homo-PP to local buyers

A week after the trial sales, Vietnam's Nghi Son Refinery and Petrochemical has started offering commercial cargoes to domestic buyers via local distributors. Deals for July delivery parcels are reported in the range VND 33,500,000-33,600,000/ton including VAT ($1329-1333/ton without VAT), FD Vietnam, cash equivalent.

Available cargoes at the moment are homo-PP yarn and injection and buyers are converters, who are eager to test out the new grades. "We procured some quantities and hope to meet customer's requirement. The domestic market might rely less on import ground would Nghi Son achieve stable production rate," a buyer commented.

Other distributors shall only receive the allocation in July,  which market believed would add more pressure on the overseas sellers.    

Nghi Son Refinery and Petrochemical is a joint venture between Vietnam Oil and Gas Group (PetroVietnam), Kuwait Petroleum Europe B.V. (KPE) from Kuwait, Idemitsu Kosan Co., Ltd and Mitsui Chemical, Inc. from Japan. The plant is able to process 200,000 barrels of crude oil per day, and produce 370,000 tons/year of PP, 680,000 tons/year of PX and 200,000 tons/year of benzene.