Home / Knowledge / News / Textiles / PTA futures on weak path
PTA futures on weak path
21
Sep '09
In the just concluded week, PTA futures fell sharply after opening due to continued slump of sales of polyester products. On Monday, main contract 911 fell and negotiated level of domestic offers fell to about 6,900 Yuan per ton. Overseas offers were at US $810-815 per ton and actual turnover was light.

On Tuesday, the market displayed a state of inertia, though rate of decline slowed down, and offers were quoted around 6,850 Yuan per ton or less. Overseas offers stood at $805-810 per ton with two transactions of Korean cargoes closing deals at $810 per ton.

On Wednesday and Thursday, the market stabilized. Domestic offers quoted around 6,850-6,900 Yuan per ton and overseas offers were at $810 per ton.

On Friday, PTA futures fell once again and market confidence was once again affected. Counteroffers from buyers were at lower level, while sellers were mostly waiting and watching. Discussion level of PTA prices stood around 6,800-6,830 Yuan per ton and overseas offers at $810 per ton, but almost no transaction were reported.

PTA market sentiment seems difficult to turn for the better before the National Day holiday. An increase in supply in upstream PX is expected and at the same time, downstream production and sales will still be flat, leading to an increase in pressure on both inventory and sales.

Call for production cuts are expected to be increasingly strong. Both, upstream and downstream sectors are facing significantly disadvantaged circumstances and it will hard for PTA to perform well on its own strengths, leading experts to aver that, PTA market is expected to mainly maintain weakness in the current week.

Fibre2fashion News Desk - China


Must ReadView All

AEPC concern over apparel exports fall; envoys meet CEA

Apparel/Garments | On 17th Nov 2017

AEPC concern over apparel exports fall; envoys meet CEA

India’s Apparel Export Promotion Council (AEPC) has expressed concern ...

Moody's improves India's rating

Textiles | On 17th Nov 2017

Moody's improves India's rating

Moody's Investors Service has upgraded the Indian Government’s local...

Sweden in talks with Birlas for smart textiles project

Textiles | On 17th Nov 2017

Sweden in talks with Birlas for smart textiles project

Sweden is seeking a collaborative project with the Aditya Birla Group ...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

November 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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