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Chinese PTA futures dip, import market in stalemate
24
Apr '12
The most active contract 1209 at China's domestic PTA futures market opened higher on April 23.

However it went into a downward towards the end of the trading time. Prices showed a significant decline and ultimately closed at 8,562 Yuan / ton, down 142 Yuan / ton from April 22.

The PTA domestic spot market was in a stalemate. Sporadic offers were in the range of 8,750-8,800 Yuan / ton, but downstream bids were at 8,700 Yuan / ton.

The market of PTA imports too was in a stalemate. Sporadic offers for Taiwan-produced cargo were in the range of US $1170-1175 / ton, but negotiation level was at US $ 1,165 / ton.

Fibre2fashion News Desk - China

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