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Vietnam’s homo-PP market plunges to lowest since 2009

by ChemOrbis Editorial Team -
  • 02/04/2020 (17:08)
Import and local homo-PP prices in Vietnam have witnessed a fresh round of sizeable declines, with their weekly averages hitting the lowest levels since January-February 2009, according to data from ChemOrbis Price Index. The market has been dragged down by abysmal demand amid the coronavirus outbreak combined with historically low crude oil and naphtha prices.

Vietnam has had 218 coronavirus cases so far, while the country has ordered a national lockdown and put in place a two-week ban on all but essential activities as of April 1.

Import prices down 23% since first COVID-19 case confirmed

ChemOrbis data reveal that the weekly average of homo-PP prices on CIF Vietnam basis has slumped 23% since the first coronavirus case was confirmed in the country on January 22.

The local market, meanwhile, has posted a total drop of 15% over the same period.
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