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PTA spot covered by wait & watch attitude

06 Jul '10
1 min read

The PTA spot market after opening on Monday morning was covered by strong watching sentiment. Spot buyers showed clear intention to accept goods around 6,950 Yuan / ton, but 7,000 Yuan / ton market met resistance.

Offers for Taiwan spot was reported at US $860/ ton, while a few offers were heard around US $855/ ton. Trade level of Korean spot was US $835/ ton (FOB, cash payment).

In the afternoon PTA futures rebounded, spot inquiries improved, bids from domestic factories were around 7,100 Yuan / ton, while sellers offered around 7,000 Yuan / ton, mainstream trade level was around 7050 Yuan / ton.

Offers for Taiwan goods were mostly around $860/ ton, bids from buyers were $850-855/ ton. Offers for Korea stock were around US $840/ ton, mainstream transactions were around US $835/ ton.

Monday sales of polyester filament were moderate, sales rate of most products was 70-80 percent, but the rate of individual factories based on fine denier POY was 150 percent or more.

Fibre2fashion News Desk - India

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