Home / Knowledge / News / Textiles / PTA futures close higher
PTA futures close higher
26
Jul '10
The most active contract 1009 at Zhengzhou PTA futures opened at 7,182 Yuan / ton on July 23 and touched a high of 7228 Yuan / ton, a low of 7162 Yuan / ton to finally close 7200 Yuan / ton, 88 Yuan higher than the settlement price on July 22.

Asian PX closed at US $847.50-848.50/ ton (FOB Korea) and $862.50-863.50/ ton (CFR Taiwan) on July 22, up $1 from the previous day.

In the Chinese domestic spot market, market sentiment of PTA in East China was light; offers for spot were around 7,100 Yuan / ton, market traders showed poor interest, buyer's inquiries were light. Mainstream talks were towards lower-end of 7000-7050 Yuan / ton range.

PTA spot in Asian market set back, a few offers for Taiwan produced goods stood around $855-860/ ton, a few inquiries were at about $850/ ton, talks focused towards lower-end at $850-855 / ton range, but, however, firm offers were light.

In the downstream market, despite rise in crude oil prices, semi-dull chip markets in Jiangsu and Zhejiang were still stable on the day, most factories were adopting a watch and wait sentiment. Offers were mostly in the range of 9000-9100 Yuan / ton (by cash or by three-month acceptance) with actual negotiations ranging between 8950-9050 Yuan / ton.

Mainstream offers from polyester staple fiber manufacturers were reported at 9400-9500 Yuan / ton, actual negotiation level was 9250-9500 Yuan / ton. Trends in polyester fiber markets in Jiangsu and Zhengjiang were mixed.

Fine denier POY and FDY still had demand, while coarse denier FDY softened, DTY provided more discount in offers. Present price of polyester POY in mainstream discussion marked 11200-11250 Yuan / ton; polyester FDY was reported at 12,100 Yuan / ton, polyester DTY stood at 12500-12650 Yuan / ton.

PTA is still difficult to reverse the temporary situation of oversupply judging from a fundamental perspective, as international crude oil rises sharply, PX spot is flat, spot market and downstream market increase slightly amid basic steadiness.

Fibre2fashion News Desk

Must ReadView All

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


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