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PTA spot market weakens
08
Jan '10
High-quality PTA in Zhejiang market, still traded at 8,000 Yuan per ton at opening time, but with the sharp diving of futures, market sentiment clearly weakened. Cash offers met difficulties and a few offers dropped to 7900-7950 Yuan per ton.

A few overseas offers were quoted at US $970-980 per ton in the morning, but few people echoed to these quotations after which sellers quoted at $965 per ton, but, buyers still held a wait-and-watch attitude, leading trade negotiations to fall back to $950-960 per ton.

Despite the sharp fall in PTA market, PX spot market could remain barely stable and some buyers quoted PX spot at US $1,158 per ton CFR Asia.

Fibre2fashion News Desk - China

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