Home / Knowledge / News / Textiles / Paraxylene prices continue to remain range-bound
Paraxylene prices continue to remain range-bound
05
Jan '10
Zhengzhou PTA futures moved all the way higher last week (December 28 to 31), mainly being driven by continuous rise in international oil prices. The main contract 1003 closed at 8,138 Yuan / ton on December 31, up 32 points compared with the settlement price on December 30, a rise of 0.39 percent.

However, as the market faces abundant supply and drop down in demand, PTA futures market is likely to consolidate amid shocks after the New Year's Day and it will be difficult for it to continue its strong upward trend.

Low demand could prove to be a resistance for the upward trend of PTA market. As it is near the end of the year, downstream polyester factories face pressures of repaying their loans and interest and with funds being scarce; they are showing little interest in purchasing raw materials.

Polyester chips, polyester filament, and bottle chip markets are soft, sales rate of polyester industry is only 40 percent, due to which polyester industry continues to face downward pressures. Several larger polyester plants in Zhejiang Province say that they will reduce operational rate in January, so demand side of PTA looks difficult to improve after the New Year.

Prices of Paraxylene (PX) continue to remain in range-bound conditions as supply increases steadily. Asian Paraxylene is likely to witness the danger of excess market supply in the first quarter of 2010, because PX future prices may continue to weaken.

As of Wednesday in Asian market, FOB South Korea price fell US $10 / ton to close at US $1,093.5-1,094.5 / ton and CFR China closed at $1,110.5-1,111.5 / ton.

Fibre2fashion News Desk - China


Must ReadView All

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Rahuul Jashnani
Jashn

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

Rikesh Mistry

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

Suresh P Bagrecha

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

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Paolo Ocleppo
Sandvik Hyperion

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

Urs Stalder
Sanitized AG

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Jay Ramrakhiani
Occasions Elegance Wear

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

Rupa Sood and Sharan Apparao
Nayaab

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

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


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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