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Chinese PTA spot market in cautious mode
Aug '12
The purified terephthalic acid (PTA) spot market in China exhibited more caution and the market appeared to be in a wait-and-watch situation.
In East China, sporadic offers for PTA were around 8,200 Yuan/ton on August 28, while bids from downstream manufacturers were for price of around 8,100 Yuan/ton. Negotiations centred on 8,150 Yuan/ton.
Spot market of PTA imports in China was also light on August 28. For Taiwan goods, market offers were in the range of US$ 1,055-1,060/ton. Downstream sector buyers showed interest in purchasing at US$ 1,040/ton, and actual negotiations were held for price of US$ 1,045/ton.
For Korean stock, market offers were in the range of US$ 1,045-1,050/ton, while buyers bid for price of around US$ 1,030/ton, and few actual negotiations took place at about US$ 1,035/ton.

Fibre2fashion News Desk - China

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