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Chinese PTA market dips, Global PX prices too fall
Oct '11
The market stayed stable in the opening session. However it plunged midway during the day and consolidated at the same level till closing hours.

The most active contract 1201 opened at 8,300 Yuan / ton, of the intraday high and then plunged to 7,988 Yuan / ton and closed at the same price.

Intraday turnover marked 1,133,276 lots, open positions increased by 36,188 lots to 333,294 lots.

WTI fell US $2.23 to $86.11 / barrel, Brent crude dipped US $2.76 to $108.39 / barrel; naphtha rose US $3 to $904-906 / ton (CFR Japan) and heterogeneous class MX fell US $13 to $1270-1271 / ton (FOB Korea).

Asia PX fell US $30 to $1539-1540 / ton (FOB South Korea), European PX dropped US $30 to $1464-1466 / ton (FOB Rotterdam) and US PX descended US $30 to $1515-1520 / ton (FOB U.S. Gulf).

Fibre2fashion News Desk - India

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