Vietnam's clinker prices hit 3-month high on tight supply

Vietnam's FOB clinker prices climbed to $32/mt in the week to Dec. 18, marking a three-month high and the strongest level since mid-September, according to data from Platts, part of S&P Global Energy.

Prices rose about 8.5% from the mid-November lows of $29.5/mt as tight supply and active buying continued to support the market, the data showed.

Vietnamese export prices had previously fallen by roughly 10% between mid-August and early November, as subdued demand, particularly from Bangladesh during the monsoon season, pressured producers to lower offers, according to Asia-based producers and traders. Prices showed signs of recovery from early November.

The upward trend gathered pace from mid-November. Platts data showed prices rising from $29.75/mt in mid-November to $30.75/mt by Nov. 27, before extending gains into December and reaching $32/mt on Dec. 18, the highest level since Sept. 11.

Market participants across Asia highlighted limited forward availability as a main reason for the price increase. "Vietnamese producers are mostly sold out for January, and some have sold out for Q1 2026. Only a few producers have spot availability now," a Vietnam-based trader said.

"I believe many traders or suppliers have started to take a more forward position for next year, which may explain the price increase," an Asia-based trader said.

Continued demand from West Africa, where Vietnam emerged as a new supplier during Q2 2025, also supported the price increases, market participants said. "There is no clinker available in Vietnam for January as all producers are fulfilling orders booked for West Africa in Q4," a trader source said

Rising domestic cement prices in Vietnam also lent support, with producers increasing local prices by Dong 100,000/mt ($3.8/mt), further reinforcing the upward momentum in clinker export values.

Platts assessed cement (ASTM type I) FOB Vietnam at $37/mt on Dec. 18, up from $36.5/mt the previous week. Platts also assessed cement clinker FOB Vietnam at $32/mt on Dec. 18, up from $31.5/mt FOB the previous week.