Home / Knowledge / News / Textiles / PTA futures rise sharply
PTA futures rise sharply
Aug '10
Zhengzhou PTA futures rose sharply on August 2. The most active contract 1101 closed at 7,736 Yuan / ton, up 136 or 1.79 percent. PTA futures continued on a strong trend from the previous day.

International commodity futures markets moved broadly higher on July 30, as warming U.S. economic data boosted market sentiment and promoted a general rise in domestic commodity markets.

Current spot market retains strong momentum. PTA market fundamentals see no major negative factors, situation from upstream and downstream sectors is good, and the market is expected to maintain good momentum shortly.

In upstream sector, crude oil futures at the New York Mercantile Exchange (NYMEX) broke US $80 per barrel on August 2, for the first time since May. September contract of light sweet crude oil futures rose by US $2.39 to $81.34 a barrel, or 3 percent.

Brent crude futures contract at ICE Futures Exchange too increased $2.77 to $80.95 a barrel, or 3.5 percent.

In the PTA spot market, the rally continued in the morning after opening, negotiation level moved higher to near 7200 Yuan. In the afternoon, mainstream price was around 7200-7230 / ton, market sentiment looked normal.

Offers for domestic MEG were strong in the morning, most offers were up to 6500 Yuan / ton; offers for overseas supply were still strong at $740-750 / ton and individual offers for bonded goods were at $770 / ton.

With sharply higher PTA futures, buying at lower level appeared better in the market, plants held lower stocks, spot supply of polyester materials rose sharply, particularly MEG, with support from costs, some polyester staple fiber plants increased prices in the afternoon.

Polyester filament market was steady, individual plants increased prices of fine denier POY, DTY and FDY moderately by 50-200 ton / ton. Mainstream offers for POY, DTY, and FDY (150D) were 11000-11300, 12300-12600 and 11700-12000 Yuan / ton, respectively on cash payment.

Mainstream manufacturers in Tongxiang were informed of electricity cuts since last night and currently, local manufacturers of texturing filament, composite filament and chips have cut production rates by 30 percent, due to electric outages.

As the weather is hot in recent days, the Government is expected to continuously monitor electricity consumption, which could lead to production cuts of PTA downstream producers, so PTA demand is expected to decline in the short term.

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Anshul Sood

‘Indian footwear market is nascent and largely a trend follower’

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Evelyne Cholet

‘France had a reputation of being big in new ideas, but poor in marketing...

Lynda Kelly
Suominen Corporation

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marcel Alberts

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

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
April 2017

April 2017

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


Browse Our Archives


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