Vietnam’s Import and Local PE Markets Reopen from Tet with Fresh Hikes

Vietnam’s polyethylene (PE) market has resumed trading on a firmer footing following the week-long Tet holiday. Both import and domestic prices have entered a new uptrend, mainly driven by aggressive increases from Middle Eastern producers amid ongoing supply constraints. Although trading activity has not yet fully normalized due to lingering holiday sluggishness, overall sentiment has turned clearly bullish, signaling continued firmness in the near term.

Imports Rise on Strong Middle Eastern Offers

According to traders, a major Saudi Arabian producer raised its March PE offers to Vietnam by $60–100/ton across the three main film grades, with LLDPE film seeing the sharpest increase. The producer’s March prices were set at:

LDPE film: $1,110–1,120/ton CIF Vietnam, cash

LLDPE film: $950–970/ton CIF Vietnam, cash

HDPE film: $980/ton CIF Vietnam, cash

The producer is reportedly open to negotiations at slightly lower bid levels, particularly for LDPE film, suggesting that actual transaction prices may settle below official offers. Nevertheless, the steep increases reflect stronger supplier pricing power in Vietnam and across Southeast Asia. The move is expected to encourage other sellers to follow, reinforcing the firm trend observed since early December 2025.

Meanwhile, another Saudi Arabian producer issued LDPE film offers at $1,100–1,130/ton CIF Vietnam, cash, with the upper end slightly exceeding the major producer’s range. The elevated levels highlight producers’ efforts to push prices higher amid tightening supply conditions.

Domestic Market Records Moderate Gains

In line with firmer import prices, domestic PE offers reopened with modest increases, extending the pre-holiday uptrend. A trader in Ho Chi Minh City reported price rises of around VND 200,000–500,000/ton ($8–19/ton) following the holiday.

At the time of writing, initial domestic offers stood at:

LDPE film: VND 31,500,000–32,000,000/ton FD, cash

LLDPE film: VND 26,300,000–26,800,000/ton FD, cash

HDPE film: VND 26,500,000–28,000,000/ton FD, cash

While the increases were moderate, the overall direction remains upward, indicating a firm post-holiday environment.

Trading Activity Gradually Resumes

Despite firmer pricing, trading activity remains subdued in the first week after Tet. Many participants have only recently returned to work, and some buyers are still on extended leave. Additionally, comfortable inventory levels have reduced immediate purchasing needs.

A trader in Ho Chi Minh City noted that buyers prefer to purchase only when necessary, as current price levels are considered high and existing stocks are sufficient through April. Similarly, a converter reported that operations resumed earlier this week, with adequate raw material coverage for March.

However, market participants expect activity to pick up in the coming weeks. Some sellers are reportedly holding back offers in anticipation of further price increases. The combination of limited supply, firm import levels, and expectations of additional hikes suggests that once demand normalizes after the holiday, stronger upward momentum may emerge in Vietnam’s PE market.

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