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Domestic PTA mainstream transaction level moves up
07
Mar '08
Following a mainstream supplier who launched March PTA Price at US $950 per ton last weekend, NPCC also introduced March PX settlement price at $1,170 per ton CFR Asia.

Most PTA mainstream offers from domestic suppliers have increased to 7950-8000 yuan per ton, and mainstream transaction level has gone up about 7930-7950 yuan per ton.

Foreign supply was scarce; requirement from financing traders still could be seen occasionally. Quality spot goods broke through contractual framework to $950-960 per ton, mainstream bargain price was at $945-950 per ton, sellers showed regret for offering at $935-940 per ton.

Reportedly, major domestic PTA suppliers will put their facility under overhaul, thus their contracted supply will be reduced. As a result, polyester plants are making requirement in spot market, so market sentiment is bullish.

Fibre2fashion News Desk - China

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