Home / Knowledge / News / Textiles / PTA faces downward pressure in medium term
PTA faces downward pressure in medium term
22
Jun '10
Rising momentum of NYMEX crude oil futures weakened overnight due to lingering concerns over recent excessive supply. July crude oil futures rose US $0.39 or 0.51 percent to close at US $77.18 a barrel.

Zhengzhou PTA futures opened higher on Monday due to support from slight rise in oil, main contract TA009 opened at 7360 Yuan per ton, intraday highest tested 7546 Yuan per ton, but finally closed at 7484 Yuan per ton.

Led by gains in crude oil, Asian PX market slightly picked up overnight. FOB South Korea rose $3.5/ ton to $913.5-914.5 per ton and CFR Taiwan rose $4 per ton to $929-930 per ton.

Asian PTA spot market was fair. A few offers for Taiwan goods were around $850-855 per ton, inquiries were around $840-845 per ton, actual negotiation was at $845/ ton and some deals were made at this price.

For spot produced by South Korea, most bids from buyers were around $815-820/ ton, but sellers were reluctant to sell at low price.

Trading atmosphere in domestic polyester chip market was better, trading volume increased. Semi-dull polyester chips traded at 9,250 Yuan / ton with 3-month acceptance and shipment to buyer's destination, mainstream price was generally 9,200 Yuan in cash payment.

Super bright chips were sold at 9,300 Yuan with 3-month acceptance and delivery to buyer within short distance; mainstream price was generally 9250 Yuan / ton in cash payment.

Transaction price of CDP slice spot market was 10000 Yuan / ton with 6-months acceptance and delivery to buyer's destination, market price of PET bottle chip was 9850 Yuan / ton, generally to be delivered to buyer's destination.

PTA market is believed to get support from weakened negative factors of external macro economy and rebound in crude oil through short-term, but it still faces a large downward pressure in medium term.

Fibre2fashion News Desk


Must ReadView All

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Apparel/Garments | On 21st Sep 2017

BFC announces partnership with Chinese firm JD.com

The British Fashion Council (BFC) has forged a new partnership...

Textiles | On 21st Sep 2017

Indonesia’s textile exports may reach $15 billion by 2019

Indonesia’s textile-related exports are projected to reach $15...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Wendell Rodricks
Wendell Rodricks

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

September 2017

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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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