Home / Knowledge / News / Textiles / Zhengzhou PTA futures contracts flare up
Zhengzhou PTA futures contracts flare up
21
Oct '09
Zhengzhou PTA futures contracts rose across the board on October 20, driven by continuous rise in international oil prices. The main contract 912 moved higher amid shocks, but fell slightly before close, volume and open interest increased significantly.

The main contract 912 opened at 7,218 Yuan per ton, touched a low at 7,200 Yuan per ton and a high of 7,456 Yuan per ton to finally close at 7,390 Yuan per ton, up 180 points from the settlement of the previous trading day, or an increase of 2.5 percent. Total transactions were 580,376 lots; positions increased by 12,534 to 172,330 lots.

Downstream market conditions of PTA continued to rise, market offers of polyester chips and polyester filament yarn rose in the range of 100-200 Yuan per ton in range. At the same time, international oil prices continued to advance, giving support to PTA market. PTA is expected to sustain gains in the short term, being driven by support from upper and lower reaches.

Paraxylene closed lower last Friday and Asian market fell US $10 to $903 per ton FOB Korea and $922 per ton CFR Taiwan, compared the rise of $45.5 per ton last week (Oct12-16). European market softened $10.25 per ton due to the impact from Asian market, and closed at $830-834 per ton FOB Rotterdam.

Monday PTA spot market conditions continued to firm up, due to continuous rise in international oil prices. Seller's offers in domestic market of East China stabilized at 7,200 Yuan per ton, but buyers were looking at deals between 7,150-7,200 Yuan per ton.


Fibre2fashion News Desk - China

Must ReadView All

Apparel/Garments | On 23rd Feb 2017

NAFTA renegotiation puts Mexico-US jeans trade at risk

The almost imminent renegotiation of the North America Free Trade...

Rick Helfenbein (left), president and CEO of AAFA, with Juan Estrada, chief of party, Hub; Courtesy: Hub

Apparel/Garments | On 23rd Feb 2017

AAFA inks agreement for best manufacturing in East Africa

The American Apparel & Footwear Association (AAFA) has entered into a ...

Mango vice-chairman and member of the board of directors Daniel Lopez (L) with Ananth Narayanan, CEO, Myntra & Jabong. Courtesy: Myntra

Apparel/Garments | On 23rd Feb 2017

Mango awards distribution & management rights to Myntra

Mango, the Spanish fast fashion brand, has awarded its master...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Paolo Ocleppo
Sandvik Hyperion

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search