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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