APIC’13: Vietnam’s toluene import market slows on April arrivals

10 May 2013 09:18  [Source: ICIS news]

TAIPEI (ICIS)--Market activity to import toluene in Vietnam has slowed down in May, following large arrivals in April, market players said on Friday.

About 10,000 tonnes of toluene was imported in April, while the monthly demand in the Vietnamese market stands at 5,000-6,000 tonnes, they said at the sidelines of the Asia Petrochemical Industry Conference (APIC 2013).

“Some players expected prices to firm, but prices [were] rather stable,” a Vietnamese importer said.

Spot prices in Asia have largely been at $1,120-1,150/tonne (€862-1,494/tonne) FOB (free on board) Korea since mid-May, after prices declined from mid-February from above $1,300/tonne FOB Korea, according to ICIS.

“If we are to import, we are looking at July cargoes,” a second Vietnamese importer said.

Toluene is primarily used in Vietnam in the solvent sector, market players said.

APIC 2013 is a two-day conference held in Taipei and will end on 10 May.

($1 = €0.77)

Author: Ong Sheau Ling

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