Home / Knowledge / News / Textiles / PTA market expected to remain weak
PTA market expected to remain weak
16
Sep '09
The majority of Zhengzhou PTA futures contracts closed marginally higher amid volatility on September 15, total open interest positions increased by 13,822 to 169,384. Main contract 911 opened slightly higher, the market indicated a narrow volatility during the session, and quickly pulled up near close.

Main contract 911 opened at 6,880 Yuan per ton, touching the highest intraday price of 6,896 Yuan per ton and the lowest of 6,822 Yuan per ton during the day and it closed at 6,888 Yuan per ton, 26 points higher than the previous day's settlement. Daily trade volume reached 248,464 lots.

Analysts believe that market conditions continue to show a weak decline and fundamentals are still poor, resulting in a weak pattern for PTA. While crude oil futures ended higher, there is no much room for PTA rebound and a declining trend towards the end of the week is more likely.

On the other hand Paraxylene too closed lower and Asian markets fell by US $19.5 per ton. FOB South Korea closed at $906.5-907.5 per ton, and CFR China closed at $923.5-924.5 per ton. Affected by Asian markets, European markets too slid by $19 per ton to touch $814-818 per ton, FOB Rotterdam.

The same pattern was noticed in PTA spot markets. Sellers were offering at 7,000 Yuan per ton, while buyers evinced interest at 6,900 Yuan per ton. Performance of PTA downstream market remained poor, prices of polyester chips and polyester filament yarn fell 100 Yuan per ton.

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search