• Linkdin

PTA spot market on strong ground

10 Aug '10
1 min read

The PTA spot market moved all the way higher on August 9, due to the influence of increased futures market. Mainstream offers in East China were around 7250-7300 Yuan / ton, counteroffers were 7200 Yuan / ton or above.

Offers for Taiwan supply stood at US $885-890 / ton, counteroffers were mostly around $880/ ton or above, a firm deal was reached at US $885/ ton. Sellers were generally reluctant at sell at $885 / ton or below.

Offers for Korean spot touched $865-870 / ton; counteroffers from downstream sector were around $885 / ton, market talks focused around $860 / ton.

PTA is now on the strong side in terms of fundamentals. Increasing prices in upstream and downstream market also support continuous rise of PTA market.

PX in Asia rose $18 to $924-925 / ton (FOB Korea). Price in Europe ascended by $5 to $910-914 / ton (FOB Rotterdam).

Fibre2fashion News Desk - China

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