Home / Knowledge / News / Textiles / Weak demand leads to slide in PTA futures
Weak demand leads to slide in PTA futures
30
Sep '09
A majority of Zhengzhou PTA Futures contracts sank amid shocks on September 29 and total positions reduced to 149,693. The most active contract 911 saw substantial reduction both in volume and open interest.

The market eventually closed at 6,606 Yuan per ton, down 8 points, or 0.12 percent from the settlement price of September 28. In the short term, the market is confused as it enters a long holiday; surrounding markets too are displaying negative factors.

Downstream production and marketing of polyester industry is in the doldrums, as the industry holds more raw materials and product inventories since it is not attracting demand before the holidays. Due to which, PTA market is expected to maintain a weak trend.

Prices of Paraxylene fell slightly on Monday. Asian market fell by US $5 per ton. FOB South Korea closed at $844.5-845.5 per ton and CFR China closed at $861.5-862.5 per ton, though prices were stable in North-West European market at $733.5-737.5 per ton FOB Rotterdam.

In China, PTA makers have introduced September settlement price at 7,100 Yuan per ton, and October listing price at 6,800-6,900 Yuan per ton. As it is approaching the end of the month and the long National Day holiday, PTA spot market conditions looked calm and steady.

Offers from sellers in domestic feed market were around 6,650 Yuan per ton, though mainstream discussion focused at 6,550-6,600 Yuan per ton. Overseas offers for general shipment were quoted at $785 per ton, but buyer's intention stood at $780 per ton.

Most market participants were preparing to leave the market for the holidays, due to which they displayed little or no interest in buying or selling in the markets, so no firm offers were available. Overall, price reduction in crude oil and Paraxylene continues to drag PTA market down.

Fibre2fashion News Desk - China


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

C Dhandayuthapani

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

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

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

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Rupa Sood and Sharan Apparao
Nayaab

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

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search