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Chinese PTA spot market in slight stalemate
Aug '12
There was slight stalemate in purified terephthalic acid (PTA) spot market in China and sporadic buying was observed mostly due to demand from polyester manufacturing units.
In East China, PTA spot market offers were in the range of 7850-7900 Yuan/ton on August 6. Counteroffers from downstream buyers were about 7750 Yuan/ton and negotiated price was in the range of 7750-7800 Yuan/ton.
For Taiwan cargo, market offers were in the range of US$ 1015-1020/ton, while counteroffers were in the range of US$ 1010-1015/ton.
For Korean cargo, market offers for PTA were in the range of US$ 1005-1010/ton. Counterbids were for US$ 1,000/ton, and negotiations centred in the price range of US$ 1000-1005/ton. However, no firm transaction took place.

Fibre2fashion News Desk - China

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