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PTA traders turn reluctant sellers
11
Feb '10
The main PTA contract 1005 at Zhengzhou market moved flat via fluctuation on February 9 and closed slightly higher at 8,142 Yuan per ton, up 110 Yuan over the previous settlement or 1.37 percent.

Confidence in PTA spot market has slightly increased before the festival, market price basically remained stable, wait-and-see psychology dominated the market, and trading atmosphere was light.

Mainstream price was quoted at 7,950 Yuan / ton, individual offers for foreign goods were at US $950-955 per ton and Taiwan cargo was quoted at $960 per ton in general. Sellers were generally reluctant on expectation of higher price after the holiday.

MEG market was in a relative stalemate, the market basically entered festival climate, most traders were preparing to leave the market for holiday, and trading atmosphere was relatively deserted.

Domestic offers for MEG basically maintained at 8350-8450 Yuan / ton, offers for foreign goods were in a stalemate, the mainstream price was at about US $995-1000 per ton.

Fibre2fashion News Desk - China

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