In the previous week, PTA futures market sentiment was weak. On Monday, last week, PTA futures opened higher but moved lower and stock quotes of domestic goods fell to 8,100 Yuan / ton, but buyers sought in the range of 8000-8050 Yuan / ton.
Spot offers for Taiwan goods dropped to US $970 per ton, trade level fell to US $965-970 per ton, negotiation level for South Korea's goods was about US $935-940 per ton, but actual trade was weak on Monday.
On Tuesday, spot price of domestic goods fell back to 8000-8050 Yuan / ton, and buyers were looking at quotes at around 7950-8000 Yuan / ton. Offers for Taiwan's spot PTA dropped to $960 per ton and for that of Korean spot ranged in between $930-935 per ton.
On Wednesday, PTA spot remained steady at prices quoted on Tuesday. Offers for Taiwan's spot PTA pointed towards $960-965 per ton, counter-offers from buyers were about $955 per ton. South Korean PTA spot prices too stayed steady at levels attained on the previous day.
On Thursday, PTA spot continued to be weak; offers for high-quality spot mostly 7900-7950 Yuan / ton. Taiwan's spot price showed intention at about $960 per ton; counter-offers by buyers were about $950-955 per ton. South Korea's spot was offered at $935-940 per ton; however talk level was around $930 per ton.
On Friday PTA, spot market once gain fell to 7850-7950 Yuan levels, with counteroffers from buyers even more lower. Taiwan cargo were generally quoted in range of $950-955 per ton, negotiation level was around $950 per ton, discussion price for Korea's cargo was around $930 per ton.