Plastics market report for the week from 24 to 29 October 2016

Last week, local plastic resin market continued to have one more active week. There are some reason for that may include:

  • China plastics markets continued to increase in price. In which, PP Yarn grade even rose higher than compared to South East Asia market, this is rare news.
  • From 1 Jan 2017, PP import to Vietnam will be subject to 3% import tax so last week traders and converters import with the hope that they have not to pay import tax for their import PP.
  • Finally, this is last quarter of the year, converter may need more raw materials to produce goods for higher consuption in the new year coming.
  • PP and PE price in China last week rose about 10-20USD per ton in average.
  • Import PP price offered to Vietnam increase about 20-30USD per ton to 1040-1050 USD per ton level but the transacted price rose only 15-20USD per ton.
  • For PE plastics: LDPE and LLDPE offered to Vietnam lightly 5-10USD per ton meanwhile HPDE price almost no change or increase 5 USD per ton depends on grades.

PP and PE this week (31 Oct to 05 Nov. 2016) in Vietnam is forecast that will continue to increase. The retail selling price will increase about 200-500 VND/kg depends on grades. Although oil price droped below 50USD per barrel but this time it seems oil decrease does not affect plastic price.

Remarks: The information obove is obtained from sales process and work closely with partners, suppliers and it is for reference purpose only. Company will have no liability for reuse this information for any purpose.