Thai PP extended the firming trend in Vietnam; demand remains sluggish
Thai PP extended the firming trend in Vietnam; demand remains sluggish

PPH Inj PPH Raf
On the second trading day of the week, Vietnamese players reported having received fresh weekly offers for homo-PP yarn and injection from a major Thailand producer at $1160/ton CIF Vietnam, LC AS. The offers indicate $10/ton increased from last week.
Limited supply continues playing an important role in supporting the upswing but the persistently weak demand condition might downplay any substantial hike in the near term.
“Local demand is not strong. Customers show very limited interest in making replenishment. We have been maintaining locally produced yarn cargoes at VND29,800,000/ton ($1168/ton without VAT) FD Vietnam and yet, unable to conclude deals,” a local trader said.
March is the traditional off-peak season in Vietnam and many customers have made comfortable purchases previously at lower prices. The need to procure new cargoes is not very pressing at the moment, however, the expectation for April outlook is much brighter.