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Chinese PTA spot market trend on Sept 11
Sep '12
In East China, mainstream offers for Purified Terephthalic Acid (PTA) in spot market were around 8,300 Yuan/ton on September 11.
Downstream manufacturers bid for price of around 8,200 Yuan/ton and negotiations took place around 8,250 Yuan/ton.
There were limited offers from sellers and the market was largely in a wait-and-watch mode, and few actual negotiations took place.
For Taiwan-imported PTA, market offers were around US$ 1,075/ton, whereas buyers bid for price of around US$ 1,065/ton and actual negotiations were centred on price level of US$ 1,070/ton.
For Korean cargo, PTA market offers were around US$ 1,065/ton, downstream buyers bid for US$ 1,055/ton, and actual negotiated price was also around US$ 1,055/ton.
The demand for PTA from polyester manufacturers was good, and hence, sellers were not eager to sell at lower price. Thus, the market entered in slight stalemate and actual negotiations were light.

Fibre2fashion News Desk - China

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