Chemicals, Polymers

January 08, 2025

Platts launches CFR Vietnam polyethylene, polypropylene assessments

Platts, part of S&P Global Commodity Insights, has launched new CFR Vietnam assessments for polyethylene and polypropylene, effective Jan. 8, 2025, to provide price transparency for deliveries of products into the Vietnamese market.

As part of the launch of these new assessments, Platts has stopped reflecting deliveries into Vietnam in its respective CFR Southeast Asia PE and PP assessments.

Platts has observed a structural pricing disparity between cargoes delivered to Vietnam and to the other standard ports reflected in its CFR Southeast Asia PE and PP assessments.

The changes were first proposed in a subscriber note published Oct. 15 here, with a subsequent decision note published Dec. 5 and available here.

Details of the new CFR Vietnam polyethylene and polypropylene weekly assessments are as follows:

New CFR Vietnam assessments

The new CFR Vietnam assessments for polyethylene and polypropylene reflect non-dutiable cargoes -- those not subject to import duties. They reflect cargoes of 100-500 mt sizes for delivery into Vietnam, basis Ho Chi Minh City, with credit terms of up to L/C 30 days.

The new assessments are databased under the following codes:

Product Weekly Monthly Average
High-density polyethylene blow molding PBDHV00 PBDHV03
High-density polyethylene injection PBCHV00 PBCHV03
High-density polyethylene film PBAHV00 PBAHV03
High-density polyethylene yarn PBBHV00 PBBHV03
Linear low-density polyethylene PBEHV00 PBEHV03
Linear low-density polyethylene metallocene C6 PBFHV00 PBFHV03
Low-density polyethylene PBGHV00 PBGHV03
Polypropylene raffia PBHHV00 PBHHV03
Polypropylene homopolymer injection PBIHV00 PBIHV03
Polypropylene inflation film (IPP) PBKHV00 PBKHV03
Polypropylene biaxially oriented film (BOPP) PBJHV00 PBJHV03
Polypropylene block copolymer PBLHV00 PBLHV03

The product specifications and delivery laycans of the new CFR Vietnam assessments are aligned with the respective specifications of the existing CFR Southeast Asia assessments and are as follows:

Product Specification Delivery laycan
HDPE injection Melt flow index of 2-25, with most of business focused on crate grade material with melt flow index of 5-11 15-30 days forward
HDPE blow molding Medium molecular weight with melt flow index of 0.2-0.35. 15-30 days forward
HDPE film High and medium molecular weight material with melt flow index of 0.07-0.18. 15-30 days forward
HDPE yarn Melt flow index of 0.7-1.1. 15-30 days forward
LDPE Melt flow index of 0.3-4 15-30 days forward
LDPE Butene grade with melt flow index of 1-2 15-30 days forward
LLDPE metallocene C6 1-hexene comonomer with a density of 918-940 kg/m3 with a melt flow index between 1 and 4.5 15-30 days forward
Raffia (also known as flat yarn) Melt flow rate of 2-4.5 at 230°VC. 20-45 days forward
Homopolymer injection Melt flow rate of 11-20 at 230°VC. 20-45 days forward
IPP, BOPP and block copolymer Melt flow rate of 6-20 at 230°VC. 20-45 days forward

These assessments are published every Wednesday and are based on the latest information sourced from the market up to the close of the assessment process at 4:30 pm Singapore time (0830 GMT). These are published in $/mt and follow the Singapore publishing schedule.

CFR SE Asia assessment changes

Simultaneously, Platts has excluded Vietnam as a delivery location from its respective CFR Southeast Asia assessments.

The assessments continue to reflect cargoes subject to import duties, or dutiable product, to delivery locations.

The standard ports for these assessments include Indonesia (Jakarta, Surabaya), Singapore, the Philippines (Manila Bay), Malaysia (Port Klang), Thailand (Map Ta Phut, Laem Chabang), and will no longer include Vietnam (Ho Chi Minh City).

These changes have affected the following assessments:

Code Weekly Mavg
HDPE B/Mldg CFR SE Asia Weekly AAAYO00 AAAYP00
HDPE Film CFR SE Asia Weekly PHALD00 PHBBH03
HDPE Inj CFR SE Asia Weekly PHAHO00 PHBBB03
HDPE Yarn Grade CFR SE Asia Weekly AAVAJ04 AAVAJ03
LDPE G-P CFR SE Asia Weekly PHAHU00 PHBAS03
LLDPE Butene CFR SE Asia Weekly PHAHA00 PHBAW03
LLDPE C6 Metallocene CFR SE Asia Weekly AAXYN04 AAXYN03
PP Raffia CFR SE Asia Weekly PHBIJ04 PHBIJ03
PP Inj CFR SE Asia Weekly PHBIH04 PHBIH03
PP Inflated Film CFR SE Asia Weekly PHASK05 PHASL03
PP Bi-axially Oriented Film CFR SE Asia Weekly AAAYY00 AAAYZ00
PP Copol CFR SE Asia Weekly PHAIA00 PHBCI03

There have been no changes to other parameters of the CFR Southeast Asia assessments.

The new CFR Vietnam and the existing CFR SE Asia assessments for polyethylene are published on PCA266, PCA270 and PCA274.

The new CFR Vietnam and the existing CFR SE Asia assessments for polypropylene are published on PCA282 and PCA411.

Both sets of assessments will also be published on PCA530, PCA462, Platts Connect, Platts Market Center, in Asian Petrochemicalscan and Polymerscan.

Please send all feedback, comments and questions to petchems@spglobal.com and pricegroup@spglobal.com

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