Home / Knowledge / News / Textiles / PTA futures rise sharply
PTA futures rise sharply
03
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

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Anshul Sood
Oceedee

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

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Marcel Alberts
Eurofibers

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Lynda Kelly
Suominen Corporation

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

Tony Ward
Tony Ward

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

Igor Chapurin
Chapurin

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

October 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
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

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
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

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
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

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
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


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