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PTA spot market on strong ground
Aug '10
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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