Home / Knowledge / News / Textiles / PTA market in comatose state as spring festival approaches
PTA market in comatose state as spring festival approaches
10
Feb '10
Chinese Zhengzhou PTA futures contracts closed higher amid fluctuation on Monday, but overall positions reduced by 2,870 to 179,202 lots. The main contract 1005 opened higher, but wavered lower by mid-session and daily K-line closed slightly lower.

Trade volume and open interests shrank. Analysts believe that downstream polyester plants have basically completed purchase activities, fundamentals are bearish, which do not support rise in prices.

Due to the impact of decline in crude oil prices, Paraxylene fell sharply in Asian markets last Friday, FOB South Korea closed down by US $32.25 to $1,018-1,019 per ton and CFR China too fell by $32 to $1,035-1,036 per ton.

As it is close to Chinese New Year holidays, sentiment in PTA spot market is turning light, prices remain relatively stable. In East China, offers for domestically produced PTA stood at around 7,950 Yuan / ton.

A few PTA plants have undertaken maintenance work during the Chinese Spring Festival, along with which some downstream polyester manufacturers are thinking on the same lines. Most of downstream polyester plants have finished purchase activities.

This week (February 8 to 12) will be the final trading week before the Spring Festival; PTA demand will be extremely light. Therefore the market is expected to be weak amid fluctuation before the holiday, correction room should be limited.

Fibre2fashion News Desk - China


Must ReadView All

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Rahuul Jashnani
Jashn

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

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Suresh P Bagrecha

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

Rikesh Mistry

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Sonam & Paras Modi
SVA

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

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 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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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