08-10-2018: Market is going up

Vietnam local market have fallen down for 2 years, however the traditional way of speculation cannot change so far. There are some warehouses have still kept since 2016, 2017, 2018 and at least one with huge quality that could be millions loss …. 

Most of local holders are considering present level of 51,000vnd/kg to 53,000vnd/kg as bottom, so any move like today 56,000vnd/kg are their un-expected trend. Leading shippers in Vietnam who are rushing to buy and the more they rush the higher price from local.

Market can be cool when all shipments from Brazil arrive which the orders are made months ago from the last crop of Brazil 2018.

Matters is that international buyers do not follow these levels because they have safe contracts at low from vnm shippers who have to cover from local whatever levels up or down.

Draft prices for today:

500gl FAQ 2500$/mt

500gl MC 2700$/mt

550gl FAQ 2680$/mt

550gl MC 2800$/mt

ASTA 2850$/mt

5MM 3050$/mt

WHITE DW: 3900$/mt

Any further questions or inquiry, please come to contact.