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Marginal rise in Zhengzhou PTA futures
29
Dec '11
Zhengzhou PTA futures contract 1205 rose 40 Yuan / ton, or 0.46 percent from the previous day to close at 8,266 Yuan / ton on Wednesday.

The threat from Iran to block oil supplies routes meant NYMEX crude oil futures stood their ground at the $100 / barrel mark. Imported PX price fell $2 to $1460 / ton.

Currently, all of the new PTA capacities planned for 2011 have begun commercial production. China has added 3.9 million tons new PTA capacity in the second half of 2011 alone.

The current domestic PTA production capacity has reached 20.06 million tons and is expected to move up further in 2012.

On the PTA downstream side, manufacturers of polyester staple fiber showed strong intention to increase price, but downstream response was not obvious.

Semi-dull chips in Jiangsu and Zhejiang markets continued to stay flat. Polyester staple fiber price rose 70 Yuan to 11,270 Yuan / ton and polyester chip price rose 50 Yuan to 10,500 Yuan / ton.

Fibre2fashion News Desk - China

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