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PTA markets continue to adjust
16
Jan '10
In the last seven days, global stock markets fell and prices of crude oil futures and gold futures also dropped, due to an impact in the increase of the deposit reserve ratio by 0.5 percent. Crude oil futures prices fell sharply and fell to below US $80. The decline in crude oil price caused PX price to move lower.

PTA market continued to adjust, market trade was not active, domestic offers stood at 7,900-8,000 Yuan per ton and overseas offers touched US $950 per ton. MEG prices looked relatively firm, mainstream discussion in domestic market ranged in between 8,200-8,250 Yuan per ton and overseas offers were at $1000 per ton.

Pre-bids of polyester chips for January contract of Sinopec Group were 9,500 Yuan per ton for semi-dull, 9,500 Yuan per ton for bright, 9,500 Yuan per ton for chips to produce industrial filament and 10,300 Yuan per ton for full-dull chips.

Market supply of polyester chips was insufficient, market trade improved; price focus moved up, mainstream level in the market ranged in between 9,800-9,900 Yuan per ton. Pre-bids of polyester staple fiber for January contract of Sinopec Group were 10,000 Yuan per ton for 1.4D semi-dull, 10,600-10,650 Yuan per ton for 1.2D bright.

Fibre2fashion News Desk - China

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