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Prices in PTA market continue to slide
10
Jun '09
In China, price in PTA spot market continues to decline. Sellers are offering to buy at about 7,000 Yuan per ton in the East China market, but actually inquiries are scarce as buyers and sellers hold wait-and-see attitude.

Overseas offers are also declining and general cargo price is offered at US $810 per ton, while offers are closing at $800 per ton, down US $10 per ton from offered price and actual transactions are also light.

In addition, PTA offers announced by the East China Association of polyester raw material traders this week (June 8-12) is 6,900 Yuan per ton, down 300 Yuan per ton from the previous week.

Polyester staple fiber price in downstream sector is continuing its slide and prices in Jiangsu-Zhejiang region have reduced to 8,550-8,600 Yuan per ton with prices in Shengze polyester filament market is also dropping.

POY products have fallen by 100-300 Yuan per ton and offers of POY 75/72, 150/144, 150/288 products are quoting at 10,000 Yuan per ton, 9,000 Yuan per ton and 9,600 Yuan per ton, respectively.

Overall, under double blow of lower raw material costs but weak downstream market, PTA market is finding it difficult to shrug off the declining trend and it is likely to remain weak in the short-term.

Fibre2fashion News Desk - China

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