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Chinese PTA import prices weaken on May 29
May '13
Prices of purified terephthalic acid (PTA) in terms of US dollar remained weak in China on May 29.
Market offers for Taiwan produced PTA remained in the range of US$ 1055-1060/ton, bids from buyers were in the range of US$ 1040-1045/ton, and market talks were around US$ 1,050/ton.
For Korean PTA, market offers remained in the range of US$ 1050-1055/ton, and negotiations took place for price of around US$ 1,050/ton.
In East China, the spot price for PTA was 7,800 yuan/ton, and bids from downstream buyers were in the range of 7,700-7,750 yuan/ton, and market discussion remained in the range of 7,750-7,800 yuan/ton.
The settlement price of Zhengzhou PTA contract was 7,854 yuan/ton on May 29, which was 12 yuan/ton or 0.15 percent higher than the previous trading day. Trade volume increased to about 924,200 lots.
PTA listing price of Yisheng Petrochemical for June was executed at 8,300 Yyan/ton, up 225 yuan/ton from settlement price.

Fibre2fashion News Desk - China

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