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Overall PTA spot market stable
02
Jun '10
Overall performance of PTA spot market was stable on June 1 and price focus of actual negotiations uplifted. Offers for Taiwan stock were around US $890 per ton. In the morning, a single deal was made at $880 in Jiangsu market; a few offers for Korean goods were at $850-855 per ton.

The Chinese domestic market remained deadlocked. PTA spot price was around 7,350-7,400 Yuan per ton. One deal was made at 7,350 Yuan per ton, but most buyers were cautious.

In the afternoon, the index and futures fell, market atmosphere of PTA spot weakened. Offers for Taiwan goods were still at $885-890 per ton, a few offers initiatively fell below US $880 per ton and negotiation talks approached $875 per ton.

Offers for Korean stock fell to US $850 or lower, and a deal of 2000 tons spot was reached at US $850 per ton in Zhejiang market. In domestic market, mainstream level fell to 7,300 Yuan per ton in the afternoon.

China Petrochemicals announced June contract prices of PX and PTA at 7,600 Yuan and 7,800 Yuan / ton, respectively.

Fibre2fashion News Desk - China

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