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Asian naphtha & PX markets register gain
Mar '10
The main PTA futures contract TA1005 in China opened slightly lower yesterday, trade activities were relatively in stalemate and it closed at 8,382 Yuan per ton. Trade volume fell to 248,180 contracts, open interest increased to 180,000 contracts.

Discussion level for domestic goods was around 8,100 Yuan / ton, offers for Taiwan goods were about US $975-980 per ton, but intention from purchasers was about $965 per ton.

Asian PX price rose by $20 to $980-985 per ton CFR South Korea on March 8; European PX price too grew by $20 to $975-980 per ton FOB Rotterdam.

Naphtha prices rose $3 to $738-743 per ton CFR Japan. April contract of crude oil futures in New York went up by $0.37 to close at $81.87 per barrel. April Brent futures also rose by $0.58 to close at $80.47 per barrel.

Gravity of semi-dull slice in Jiangsu and Zhejiang markets in China slightly increased, trading focus climbed to 9,850-9,900 Yuan per ton for spot goods. Trade volume slightly declined compared with the previous session.

Fibre2fashion News Desk

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