Home / Knowledge / News / Textiles / PTA futures stumble
PTA futures stumble
08
Feb '10
Chinese Zhengzhou PTA futures contracts stumbled lower on Friday last week, due to the impact of the drop in international oil prices overnight. Main contract 1005 opened lower and then moved upward amid shocks to finally close at 8,050 Yuan / ton, down 94 points, or 1.15 percent compared with previous settlement.

Asian markets fell US $4 per ton. FOB South Korea closed at $1,050.25-1,051.25 per ton, while CFR China settled at $1,067.25-1,068.25 per ton.

PTA spot market was flat and slipped down on Friday, East China market fell 100 Yuan / ton and offer intention from sellers fell to 7,950 Yuan / ton. In general, international oil prices plummeted, raw materials of xylene recovered after decline, providing greater bearish impact on PTA market.

Downstream demand is dwindling before the Spring Festival; therefore, it seems unlikely that PTA market will reverse the downturn situation at present. However, the decline in PTA market is expected to be limited, as some market participants expect bullish trends after the Spring Festival.

Fibre2fashion News Desk

Must ReadView All

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Textiles | On 20th Jan 2017

Xeros to focus on textile sector to develop technology

Xeros technology group plc, the developer and provider of patented...

Apparel/Garments | On 20th Jan 2017

Nine West acquiring womenswear marketer Kasper Group

US based footwear, accessories and denim company Nine West Holdings...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Lynda Kelly
Suominen Corporation

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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
January 2017

January 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